Ford CEO Out

Feb 2017
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#1
Ford CEO Mark Fields is stepping down, to be replaced with board member and Ford Smart Mobility Chairman Jim Hackett.

Like Alan Mulally, the Boeing executive who became Ford CEO before the financial crisis and steered the carmaker through its most challenging episode, Hackett has no prior experience in the auto industry.

He was CEO of furniture manufacturer Steelcase, but he has a close relationship with Ford Chairman Bill Ford and has a reputation for advanced thinking about business and the future.

He had been Chairman of Ford Smart Mobility, the company's forward-looking division, designed to keep pace with the Tesla and Ubers of the world.

Fields, by contrast, was a consummate insider, a Ford veteran with nearly 30 years under his belt. With a background in sales and marketing, he forged a tight relationship with Mulally and learned to pull in his sharp elbows. As CEO, he was smooth and suave, but he also had to serve two masters: the ongoing disruption of the auto industry; and Ford's core business, which was hugely profitable.

He did a decent job with the Silicon Valley geekery, but he also had to please Ford's dealers and the "car guys" in the company — the designers, engineers, and executives who prize the company's leadership role in SUVs and pickups and who cherish the legacy of the Mustang muscle car.

Ousted Ford CEO Mark Fields had an impossible job - Business Insider

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