Ford to Name Strategy Chief Jim Farley New Chief Operating Officer
February 07 2020 - 9:14AM
Dow Jones News
By Mike Colias and Christina Rogers
Ford Motor Co. is appointing strategy chief Jim Farley as its
chief operating officer, who will be taking over broader
responsibilities from retiring president of automotive Joe
Hinrichs, according to people familiar with the matter.
Ford planned to announce the leadership shake-up to employees
Friday morning.
The moves comes three days after Ford missed fourth-quarter
earnings targets and issued disappointing profit guidance for 2020.
Ford cited problematic launches of key models, including a
redesigned Explorer sport-utility vehicle, as a factor for weak
results in the second half of last year.
Mr. Hinrichs, a longtime manufacturing guru at Ford, was named
president of automotive operations in April, putting him in charge
of the company's vast car-manufacturing network globally. At the
time, it made Mr. Farley head of new businesses, strategy and
technology, tasking him with charting Ford's course as
technological advances like electric and driverless cars disrupt
the auto business.
Mr. Farley's elevation to operations chief could position him as
a potential successor to 64-year-old Chief Executive Jim Hackett,
who has led Ford for nearly three years.
Write to Mike Colias at Mike.Colias@wsj.com and Christina Rogers
at christina.rogers@wsj.com
(END) Dow Jones Newswires
February 07, 2020 08:59 ET (13:59 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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