Ford Motor Executive Chairman Bill Ford (R) and James Hackett answer questions from the media after announcing Hackett was named Ford Motor Company president and CEO, succeeding Mark Fields, in Dearborn, Michigan, U.S., May 22, 2017. REUTERS/Rebecca Cook
WASHINGTON/DEARBORN, Michigan: Ford Motor Co abruptly named James Hackett as chief executive on May 22, responding to investors' growing unease about the US automaker's slumping stock price and its ability to counter threats from longtime rivals and Silicon Valley.
Ford chairman Bill Ford Jr, whose family effectively controls the US No. 2 automaker, 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.
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