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8/4/2020, 3:06 PM (Source: TeleTrader)
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Ford CEO Jim Hackett retires, Jim Farley to take over

Ford Motor President and Chief Executive Officer Jim Hackett (pictured) decided to retire, the company announced on Tuesday. He will be succeeded by Jim Farley, who currently serves as the Michigan-based firm's chief operating officer, effective on October 1.

"Jim Farley matches an innate feel for cars and customers with great instincts for the future and the new technologies that are changing our industry," Ford’s executive chairman Bill Ford said in a statement.

Hackett served as the vehicle manufacturer's CEO since 2017 and he will remain with the company a special advisor through March 2021.

Breaking the News / GA