Jim Farley
Ford's new CEO Jim Farley promises urgency, names new CFO in shakeup
Ford Motor Co's new chief executive, Jim Farley, on Thursday promised the No. 2 U.S. automaker would move with urgency, in contrast to criticism his predecessor faced. Farley, on his first day as Ford's 11th CEO, also announced an executive shake-up that included naming a new chief financial officer. Ford's promise to accelerate its turnaround is not new at a time when it is executing on an $11 billion restructuring.
New Ford CEO Jim Farley plans to expand into technology fields
"These are new growth initiatives that could create a lot of value for the company," Farley told Reuters, after Ford announced that he will succeed Jim Hackett as the automaker's fourth CEO since 2014. In addition to Ford's work on self-driving vehicles, "these are concrete areas that will change Ford," Farley said. In the meantime, Farley, 58, must wrestle with a painful restructuring of Ford's global operations amid the ravages of the coronavirus crisis that has saddled the No. 2 U.S. automa