Ford to Fire CEO Amid Investor Concerns
This goes straight to the top. Since Mark Fields took the wheel three years ago, shares have dropped 40 percent, leading investors and analysts to criticize his leadership. Ford’s first quarter results saw a $1.5 billion profit drop and lost market share, and last week Fields announced that 1,400 jobs will be cut. His job will reportedly be another casualty. Fields will be replaced by Jim Hackett, who currently leads the autonomous technology division. Investors hope Hackett can help Ford stop lagging behind competitors when it comes to driverless cars.