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  • The Atlantic

    Ford's CEO Mark Fields Is Being Replaced

    The company’s stock value has declined more than 30 percent since he took over in July 2014.
    by Krishnadev Calamur May 22, 2017 2 minutes
    Source: Rebecca Cook / Reuters

    Updated at 9:41 a.m. ET

    Ford Motor Company announced Monday it was replacing Mark Fields, its CEO, with Jim Hackett, the head of its autonomous-driving unit.

    Ford’s stock has declined more than 30 percent since Fields became CEO in July 2014. Last week the company it was cutting 1,400 jobs, about 10 percent of its salaried workforce, mostly through buyouts. The move was an attempt to assuage shareholders angry about the direction of the company, which has been buffeted by poor sales, lower-than- expected profits, and declining stock value.    

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