Hackett is retiring after his three-year bid to turn Ford around failed to make inroads
Michigan, US — Ford says it will promote Jim Farley to CEO on October 1 to replace Jim Hackett, who has elected to retire after his three-year bid to turn around the carmaker failed to gain traction.
Last week, Ford posted a second-quarter operating loss that was less than half the $5bn deficit it had predicted, due in part to demand for its SUVs and trucks holding up better than feared. But some of the company’s overperformance also could be chalked up to an on-paper gain from its investment in self-driving start-up Argo AI.
In February, Ford announced the promotion of Farley, one of the two presidents seen as leading candidates to become the next CEO. The other, Joe Hinrichs, left the company.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marc Márquez out of Czech race for second surgeryRepsol Honda Team has confirmed that test rider Stefan Bradl will replace him
Read more »
Marquez ruled out of Czech race due to broken arm, replaced by BradlMarquez ruled out of Czech race due to broken arm, replaced by Bradl
Read more »
Faul vows to uncover ‘deep throat’ at Cricket SACEO emphasises that details of board meetings and employment contracts are confidential information
Read more »
WATCH: How the tourism sector has asked for more helpSA Tourism CEO Sisa Ntshona talks to Business Day TV about the struggling sector
Read more »
Deputy AG Tsakani Maluleke in the running to replace Kimi MakwetuA parliamentary ad hoc committee on the appointment of the Auditor General met on Tuesday to consider the names, as well as the selection process.
Read more »
Cricket SA condemns leaking of confidential information to mediaActing CEO Jacques Faul says OfficialCSA will, in order to protect the integrity of the organisation, launch an investigation into who and why confidential information was leaked to the media. | IOLsport
Read more »