Jim Hackett Out As Ford CEO After Three Years

[Kensington]

Jim Hackett Out as Ford CEO After Three Years

Hackett will be replaced by COO Jim Farley after a tenure marked by financial trouble, production issues and the death of sedans and small cars.

www.thedrive.com

Click to read more...

 

[Chet Donnelly]

Yeah, that dude was in way over his head....stock price up almost 3% on the news.

 

[Yaj Yak]

 

[GTPpower]

Good riddance.

 

[CMNTMXR57]

Yea, can't say I didn't see that one coming. Some of the decisions he made signed his death.

 

[jason05gt]

He should have been canned 6 months into his tenure. He ruined Ford and the decisions he made are going to live with Ford for a very long time. I’m hoping that Farley injects some quality, design, and doesn’t cut corners (IE build for a price point). The last couple of product launches under Hackett were a disaster.

 

[YoushallgoFo]

Looks like Jim couldn't hack it.

 

[SpeedSpeak2me]

Interestingly some sites just report it that he's "out", however some are saying he is retiring. Forced retirement?

DEARBORN, Mich., Aug. 4, 2020 – Ford Motor Company today announced that Jim Hackett, who has led the company’s transformation since 2017, plans to retire from the company. Jim Farley has been named the company’s new president and CEO and will join the board of directors, effective Oct. 1.

https://media.ford.com/content/fordmedia/fna/us/en/news/2020/08/04/ford-announces-jim-hackett-to-retire-as-president-and-ceo.html

 

[Intel]

Looking good for a lot of ford stock bought at the bottom. Keep on turning things around ford.

 

[FirstWorldProblems]

About goddamn time. This dude is a perfect example of why the system is broken. Ford paid him $40m+ during his tenure just to run the company in to the ground. The bronco is literally the only thing that's gone well (so far) with him as CEO, but the hardest part is yet to come. They need to execute the launch, not their strong suit.

I mean..the guy invested a BILLION dollars in their chicago plant and still totally fubar'd the new explorer launch. Come on. Nobody in their right mind would invest a billion dollars in to a manufacturing facility on the south side of chicago

 

[nytebyte]

Hackett... The guy who decided that Ford (a car company) should not make cars.
Everyone in the world thought it was nuts but him.

 

[Rent Free]

Its about damn time!! Hackett was a mess from Day 1