Money Ford set to replace Mark Fields in drive to boost its fortunes

15:00  22 may  2017
15:00  22 may  2017 Source:   International Business Times

Harrison Ford was ready for Blade Runner return

  Harrison Ford was ready for Blade Runner return Harrison Ford believes it was the right time to return to his character Rick Deckard in the upcoming sci-fi adventure 'Blade Runner 2049' - a sequel to the 1982 cult classic.Harrison Ford signed up for 'Blade Runner 2049' after deciding it was the right time to revisit his character Rick Deckard.

The move comes two week as Fields was criticised by shareholders for sliding financial results.

Ford set to replace Mark Fields in drive to boost its fortunes . How much is Sir Richard Branson worth? The move comes two week as Fields was criticised by shareholders for

Ford Motor will shift production of small cars to Mexico from Michigan despite Trump threat © Reuters Ford Motor will shift production of small cars to Mexico from Michigan despite Trump threat

Ford Motor Company is set to replace boss Mark Fields amid investor unrest that the car giant is falling behind its rivals.

Fields will retire at age 56 after 28 years at the company, it was reported in the New York Times.

Jim Hackett is expected to replace Fields, a turnaround specialist who has been leading the automaker's moves into self-driving cars and ride sharing.

Hackett, 62, joined the Ford board in 2013, and is a former boss of office furniture maker Steelcase.

The company is expected to release a formal statement about the chief executive's post later today (22 May).

Harrison Ford was ready for Blade Runner return

  Harrison Ford was ready for Blade Runner return Harrison Ford believes it was the right time to return to his character Rick Deckard in the upcoming sci-fi adventure 'Blade Runner 2049' - a sequel to the 1982 cult classic.Harrison Ford signed up for 'Blade Runner 2049' after deciding it was the right time to revisit his character Rick Deckard.

Ford set to replace Mark Fields in drive to boost its fortunes . The move comes two week as Fields was criticised by shareholders for Hong Kong's Cathay Pacific airline to slash 600 jobs amid losses. Cathay Pacific posted its first full-year loss in 8 years in March.

Ford CEO Mark Fields © Mike Segar / Reuters REUTERS. Fields told Reuters earlier this month the automaker is exploring various options to boost its move into car-sharing, self- driving technology and services built on staying connected with customers during the 900 or so hours a year they are behind

Fields took the top job at Ford in 2014 and began the carmaker's transition from a traditional automaker into a "mobility" company, laying out plans to build autonomous vehicles and explore new services such as ride-hailing and car-sharing.

But there has been shareholder disquiet over the last year that Fields had dropped his focus on Ford's core business, as popular products like the Fusion sedan grew dated and Ford lagged behind rivals in bringing long-range electric cars to the market.

Electric car maker Tesla, with a market value of around $51.1bn, has passed the valuation of 114-year-old Ford, which is worth around $43.4bn. Ford's stock price has fallen almost 40% in the three years since Fields became chief executive.

The move comes two weeks after Fields was criticised during the annual shareholders meeting for Ford's worsening financial results. Last week he announced the firm would axe 1400 jobs.

Hackett is credited with transforming Steelcase, in part by predicting the shift away from cubicles and into open office plans. But he also cut thousands of jobs and moved furniture production from the US to Mexico to stem massive losses at the company.

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