Ford Names New CEO

"The appointment of the ex-CEO of Steelcase, who ran Ford's Smart Mobility division since March 2016 and has served on the company's board, left many questioning the choice of a former furniture executive to run an automaker over an octane-in-the-veins veteran like Fields", Doug Newcomb wrote in the Forbes article.

"Make no mistake, he's not just a futurist".

Ford said previous year it plans to spend about $5.5 billion on research and development on electric and self-driving cars.

He succeeds Mark Fields, who has elected to retire from Ford after a successful 28-year career with the company. Previously also, Hackett has gained experience to revive companies.

"Bill is going to be a sounding board for me", said Hackett.

Hackett is known as a customer-minded turnaround artist who thinks outside the box.

But this narrative also gets a whole lot fuzzier the closer you examine it. On blogs and message boards, MI fans have, only half-jokingly, urged the university to build a statue of Hackett on campus in appreciation. What was most noticeable about the press conference Monday was how comfortable Ford and Hackett were with each other.

Fields resurrected Ford's luxury Lincoln brand and grew sales in China.

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USA officials, though, said in their conversations they believe the Haitian government wants its people back at some point. In the leaked memo, McCament recommended extending the program for six months, out of a possible 18.

That was the sobering conclusion after a series of extraordinary meetings this month culminated Monday with an abrupt exit by Fields, whose almost three-year tenure as chief executive left Ford struggling to keep pace with new technologies like self-driving cars and the relentless pressure from Wall Street to deliver profits now amid a slowing US auto market. Fields opened a Silicon Valley office to hire talented young researchers and scout promising startups.

Hackett said one of the people he told about his new job at Ford on Sunday was Harbaugh, the University of MI coach he hired.

But investors anxious about Ford's sliding US market share and product decisions. The company shocks the Detroit auto show with its new GT supercar.

And the company can not pivot quickly.

Ford could also be hoping an outsider will strike gold again, bringing a fresh set of eyes to a vehicle company that could use a jump-start. And the much-anticipated new Bronco SUV won't be out until 2020. However, the company has been criticized for its slow shift into the digital future. "Add in the rise of Tesla. and the impressive results Fields delivered simply weren't enough to satisfy Ford's stockholders". But those moves have been eclipsed by competitors such as Fiat Chrysler, which is making self-driving minivans with Waymo, Google's self-driving auto division.

The reported CEO departure comes amid a more than 30 percent plunge in shares of the automaker since Fields took the helm on July 1, 2014, with shareholders assailing management over the decline and company's strategy. The market yawned and Ford's stock price only advanced 2% on the news. "There's pockets of this that exist, but we're going to make it more emphatic". He also sports what Bill Ford referred to as a "long track record of innovation and business success" as the CEO of Steelcase and as interim athletic director at the University of MI. Farley will also oversee the strategy and business model development for electrified vehicles and autonomous vehicles.

Among the 100,000-plus people who fill Michigan Stadium on fall Saturdays are plenty of Ford engineers, assembly workers and midlevel managers - all of whom knew exactly who Hackett was when he stepped onto the stage at Ford's headquarters Monday morning. Ford NA production is starting to look relatively more attractive in 2H17.

January 2016: Ford earns a record pretax profit of $10.8 billion for 2015.

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