Earlier this week, Ford Motor Co. replaced company veteran Mark Fields as CEO with Jim Hackett, a relative newcomer to the auto industry. Ford said it needed the change to speed up decision-making and reorient toward the future.
Ford is highly profitable, thanks to strong sales of pickups and SUVs. But last year’s profit of $4.6 billion was down $2.8 billion from a record in 2015. And Ford’s stock price fell almost 40 percent in the three years Fields was CEO.
Hackett, 62, is credited with reviving furniture maker Steelcase. He served on Ford’s board for three years and for the past year was leading Ford’s mobility unit.
