Top 10 facts you didn’t know about Ford's new CEO
Ford has come a long way since the financial crisis which took them to breaking point. However, after regaining their power in the automotive market, the company has undergone a significant shift. It has recently been announced that CEO Mark Fields is set to be replaced by Ford Smart Mobility Chairman Jim Hackett in a surprise move, in order to take the company in a new direction.
1. Hackett spent 20 years at Steelcase. However, under his leadership, the company became to be the one to watch in terms of producing innovative designs and products, providing significant increases in revenue
2. Hackett was the youngest CEO in Steelcase’s history, becoming CEO at age 39.
3. He is currently a member on several boards, such as the National Center for Arts and Technology at the University of Michigan and on the Northwestern Mutual Life Insurance board in Milwaukee
4. Hackett has been on Ford’s board since 2013, working with new ideas and technologies which will be merged into the company’s core operations
5. In an interview in 2013, Hackett discussed the importance of sustainability within the workplace, stating that “sustainability is a measure of fitness and a lense for innovation.”
6. With an approximate 40 percent decline in share price, executives believe that Hackett is the man to turn the business around, with a focus on new technologies, driverless cars and modern designs, enabling Ford to compete with tech focused automotive companies, such as Tesla
7. Hackett graduated from the University of Michigan in 1977 and has also served as Interim Athletic Director at the University from 2014-2016
8. Hackett is renowned to be both influential and engaging. For example, in a past interview, he has stated, “it isn’t companies that always survive against the odds, its ideas” – fitting seamlessly with Ford.
9. In a press release, Ford has stated, “Under Hackett’s leadership, together with Bill Ford, Ford is strengthening its automotive business and accelerating a strategic shift to capitalize on opportunities during a transformative period for the auto industry and the broader mobility space.
10. With change and transformation becoming an essential part of business resilience, Hackett will lead Ford into a new world of automation, and ensure the company remains profitable for the ongoing future
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