Ford Motor Co. replaced Mark Fields as its CEO following a three-year tenure Monday. Ford Executive Chairman Bill Ford named Jim Hackett in Field's place and the decision had tongues wagging.
Dealers knew little about the man who would steer the company's new direction, according to Auto News. Hackett had little experience as a car industry insider although he headed the subsidiary Ford Smart Mobility for autonomous cars before his promotion. He, however, built his reputation as a business leader in the furniture industry.
The chairman cited Hackett would be a perfect choice as the auto industry undergoes a transformation. The chairman described his new CEO as a "change agent," as per Detroit Free Press. "He is really a proven transformation leader. He is a visionary leader," Ford said of Hackett.
In an industry that's growing with technology, where electric, digital and self-driving cars could become the norms, Hackett's appointment also suggested a positive relationship with Silicon Valley. Business Insider reported the new CEO's ties with tech leaders are deep despite his lack of background in tech. Having the right person on the top could open doors for future collaborations with Silicon Valley's best and brightest.
Following his assumption as CEO, Hackett immediately issued a statement to investors citing that technological ventures for Ford will help boosts its value and profits. Part of this investment is in building a data center in Dearborn, as per Detroit News. In the past months, Ford already poured in billions of dollars in collaborating with Argo, an artificial intelligence company, for its autonomous vehicles, and Velodyne, a sensory company, for its self-driving cars.
Hackett's replacement at Ford Smart Mobility is Marcy Klevorn, who was Ford's vice president of information technology and chief technology. "We're going to be marrying her with mobility because it's so much of the importance of digital services in its future," Hackett said. Watch Hackett discuss his plans for Ford in the video below.
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