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REPORT: Ford CEO axed in wake of tumbling sales

22.05.2017

Ford Motor Company is expected to make an official announcement soon following a report by Forbes that its CEO, Mark Fields, had been axed in favour of its Smart Mobility division head, James Hackett.

According to the report, the shake-up, which will also see Ford Asia-Pacific Vice President for Communication Mark Truby replace Ray Day as Vice President for Group Communications, comes amidst a near 40% slump in share prices and overall decline in profit following Fields' replacing of Alan Mulally in 2014.

Despite soaring sales of the iconic F-series, the report further claims that board members and company Executive Chairman, Bill Ford, have been losing confidence in Fields' leadership, with the brand's posting of a 7.1% drop in sales last month and running below industry average being additional factors.

A Ford spokesperson has however declined to comment on the allegations, merely saying in a statement, "We are staying focused on our plan for creating value and profitable growth. We do not comment on speculation or rumors".

Article written by Autodealer
22.05.2017
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