The American automaker Ford, engaged in a vast transformation which is still struggling to convince investors, announced Tuesday that its chief executive Jim Hackett will be replaced in October by the current chief operating officer, Jim Farley.
Read also: New car sales increased by almost 4% in July
Under the leadership of Mr. Hackett, who took over as head of the company in 2017 and aged 65, Ford has invested heavily in autonomous vehicles and repositioned itself to meet Americans' demands for larger vehicles.
When the group's results were published last week, Mr. Hackett said in this regard " feeling better and better " about the decision taken in 2018 to focus the company's efforts on pick-ups, 4X4s. city and utility vehicles and gradually abandon small cars and sedans.
" I am very grateful to Jim Hackett for all he has done to modernize Ford and prepare us to compete and win in the future, " Ford Chairman Bill Ford said in the statement. . “ Our new product vision - led by the Mustang Mach-E, the new F-150 (pickup) family and (the 4X4) Bronco - is taking shape. We now have compelling plans for electric and autonomous vehicles, as well as full vehicle connectivity , ”he added.
But the group's stock remains barely, it has lost about half of its value over the past five years just as a group like electric vehicle maker Tesla has taken to Wall Street.
Jim Farley, 58, joined Ford in 2007 as Global Sales Manager and then headed the Lincoln Divisions, South America and then Europe, before overseeing all of the group's markets.
Read also: Automobile: hope from China
He was chosen in April 2019 to lead the team in charge of new activities, technologies and strategy before being appointed director of operations in February. Mr. Hackett will remain special advisor to Ford until March 2021.