Ford has announced it will have a new CEO. The current CEO, Jim Hackett, will retire this fall. Jim Farley will succeed him.
Still somewhat surprising today is the announcement by Ford that Jim Hackett (right on the photo) leaves Ford more than three years after his appointment as CEO. Hackett is well on record at the company, but has decided it is time to enjoy his retirement. The CEO is now 65 years old, so blame him. Jim Farley (left in the photo) will succeed him on October 1, the American manufacturer announced.
Farley is currently COO at Ford, but so climbs to the top position within the company. The 58-year-old is certainly no stranger to Ford and has worked closely with Hackett in recent years to make Ford more future-proof. That was also the goal that Hackett had in 2017 when he was confirmed as CEO. According to Bill Ford jr., Executive chairman and great-grandson of founder Henry Ford, Hackett has responded to that. “I am very grateful for what Jim Hackett has done to modernize Ford and prepare us for a competitive and successful future.”
Farley now has the assignment to continue the ‘transformation’, which also includes the roll-out of more electric model lines. “Jim Farley has a great sense of cars and customers and an instinct for how new technologies are changing our industry,” said Bill Ford.