Ford names Hackett as CEO to tackle car rivals, Silicon Valley

Ford names Hackett as CEO to tackle car rivals, Silicon ValleyBy David Shepardson and Joseph White WASHINGTON/DEARBORN, Mich. (Reuters) – Ford Motor Co abruptly named James Hackett as chief executive on Monday, responding to investors’ growing unease about the U.S. automaker’s slumping stock price and its ability to counter threats from longtime rivals and Silicon Valley. Hackett, 62, a turnaround expert who for the past year has led the Ford unit developing self-driving cars and related projects, replaces Mark Fields, 56, who spent less than three years as CEO. Ford Chairman Bill Ford Jr. said he wanted Hackett to speed up decision-making and cut costs, but did not offer specifics on how the new CEO should change operations at the U.S. No. 2 automaker.



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