Ford appoints 'true visionary' Jim Hackett as president and CEO

True original thinker: Why Ford chose new CEO

And, he said, they will boost earnings and value for the automaker.

Hackett, Ford said, "Will continue to transform the culture of Ford Motor Co". We're going to get back to them in a sec. Now let's see how the market is reacting to Ford's management changes.

Ford Motor Co's (F.N) unexpected decision to replace its chief executive officer on Monday may not be the catalyst that revives its slumping share prices. Given his background, Hackett's promotion can be seen as both a long-term investment in the future of the company and a short-term mechanism to ease shareholder jitters. The 36 percent decline in Ford shares since he replaced Alan Mulally almost three years ago was the mathematical manifestation of investors' discontent in his stewardship.

Ford could also be hoping an outsider will strike gold again, bringing a fresh set of eyes to a auto company that could use a jump-start.

Ford also announced a new structure for its operations and named three new leaders reporting to Hackett. "Silicon Valley culture is very, very different certainly than from the industrial Midwest".

December 2015: Ford ends the year with a 14.9 percent share of US new vehicle sales. But naming a 62-year-old from the furniture trade to replace him hints at how unprepared the family was for a revolt. He was also the executive chairman of Ford Smart Mobility LLC since March 2016.

Technology industry executives, whose offices had been designed and furnished by Steelcase, treated Hackett like a star.

Now it looks like Hackett is getting a chance to make a bigger impact-one with bigger stakes-than he anticipated.

Mark Fields, aged 56, has been with Ford for 28 years. "We're going to be marrying her with mobility because it's so much of the importance of digital services in its future", Hackett said.

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The Dearborn-based automaker has reiterated it will keep its previously stated goals of investing $4.5 billion into electrification by 2020.

The C-Suite shakeup at Ford is the latest blaring signal that the landscape for OEMs - and collision repairers, by extension - is changing dramatically, for better or worse. In this role, Hinrichs will oversee Ford's global product development; manufacturing and labor affairs; quality; purchasing; and sustainability, environmental and safety engineering. Marcy Klevorn will be executive vice president and president of mobility. "The appearance from the outside is that they aren't in a position of leadership".

Not only are they facing competition from new tech companies like Tesla, Google, and Uber, but even old industry veterans are doubling down on self-driving technology.

Notably, the three major things that Ford's new CEO plans to focus on are- sharpening the operational execution; modernizing the company's business; and transforming Ford to meet the future challenges.

"If their promises are true, then they should be in a position of strength", he said, though "that's a long lead time".

According to Bill Ford, Hackett was picked because he oversaw great change at an another old-line company, Steelcase, which he ran for 25 years.

A former executive at Boeing, Mulally became CEO of Ford at a time of crisis for the company and the industry.

"This ultimately would mean leveraging connected, electrified and autonomous vehicles to offer consumers mobility as a service", Hodgson said. Well, Ford's new CEO is maybe the company's new strategic move to ramp up its business.

But Schuster cautioned falling victim to the same pitfalls that helped trip up Fields. "Clearly there was a gap between how the company was actually performing in reality and the vision", Beavis said:The CEO's going to take the hit for that every time".

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