Ford Fires CEO Mark Fields
Former Steelcase CEO Jim Hackett, head of Ford’s “mobility” division and a favourite of Ford executive chairman Bill Ford Jr., will replace ousted CEO, Mark Fields, according to multiple reports on Sunday by Forbes and the New York Times.
The development follows the board grew impatient at the company’s lagging stock price.
Even a round of global layoffs of 1,400 salaried workers announced last week failed to boost shares.
The company said a brief statement that “we are staying focused on our plan for creating value and profitable growth” and “we do not comment on speculation or rumours.”
Mark Fields took over the reigns at Ford almost three years ago after celebrated CEO Alan Mulally retired from full-time corporate leadership.
