Ford to replace chief executive Mark Fields, reports say


Mark FieldsImage copyright
Getty Images

Image caption

Mark Fields took up his role in 2014

Ford chief executive Mark Fields is set to depart following a major reshuffle at the car maker, according to reports.

His expected departure, first reported by the New York Times, comes as Ford faces weak sales, falling profits and a near-40% decline in its share price since Mr Fields took up his role in 2014.

He may be replaced by James Hackett of Ford’s autonomous driving unit.

A Ford spokeswoman declined to comment on the reports.

Last week, the carmaker said it planned to cut around 10% of its global workforce.

Ford employs more than 200,000 people globally at the end of 2016, including about 101,000 in North America and 23,000 in Asia.

Sales in April were down 7% in the US and 11% lower in Europe compared with a year earlier. The firm has also been hit by costs related to safety recalls.

In recent years, Ford has invested heavily in self-driving technology and ride-sharing services.



Source link