it is a two page article check the rest out at the linkt's all the buzz of the auto industry this morning: Ford has fired its CEO Mark Fields and will replace him with Jim Hackett, former CEO of Michigan furniture maker Steelcase.
Hackett presently oversees the Ford unit working on autonomous vehicles.
The company is expected to make the announcement this morning, according to numerous media reports from sources briefed on the move.
Articles confirming the expected firing came last night from both The New York Times and business magazine Forbes.
Fields, a 28-year Ford veteran, was tapped to lead Ford in 2014 by Alan Mullaly, who had been brought in from Boeing to turn around the company in 2006.
Mullaly famously did just that, including taking a loan of tens of billions of dollars to fund a wholesale renovation of the company's global product lineup. Fields, the insider "car guy," became product chief Mullaly proved to have excellent timing, and Ford's restructuring was underway by the time of the deep recession that pushed competitors GM and Chrysler into bankruptcy.
Ford famously ended up requiring no direct financial assistance (it did receive a $5.9 billion low-interest loan from the Department of Energy), unlike the other two.
But if Mullaly's charge was to save the company, the task for Fields may have been harder still: transform it.
The industry widely acknowledges that the combination of vehicle electrification, autonomy, connectivity, and sharing will wreak big changes that are, so far, poorly understood.
Ford is viewed by those in the media who cover it as a company that talks a great deal about those topics, often at the expense of sharing actual information on actual cars.
Not as cut and dry as the the heading suggests. Fields had a big mountain ahead of him to transform the company and get EV's out and running in the community