Ford CEO Jim Hackett to Retire; Jim Farley Named Successor
Ford Motor Company (NYSE: F) announced today that its CEO, Jim Hackett, who has led the company since 2017, has elected to retire.
As was widely expected, Hackett will be succeeded by Jim Farley, a longtime Ford executive who became the company's chief operating officer earlier this year. The changes will be effective Oct. 1. Hackett will serve as a "special advisor" to Ford from Oct. 1 until he retires on March 31, the company said.
Farley, who joined Ford in 2007 from Toyota to run the company's marketing team, has long been seen as a rising star in the organization. Shortly after becoming CEO, Hackett put Farley in charge of Ford's global product initiatives, a position in which he could essentially audition for the top job.
Source Fool.com
