Ford Motor’s new CEO Jim Farley is shaking up the company’s top ranks and restructuring operations as the automaker struggles to bolster shareholder confidence and stay relevant in an increasingly competitive market.
Farley, who succeeds Jim Hackett, is streamlining operations and refocusing on key growth areas like autonomous and electric technologies as well as commercial vehicles. The changes come at a pivotal time for Ford. For years, the company has failed to gain Wall Street’s confidence in its business operations and labored to execute an $11 billion turnaround plan announced by Hackett in 2018.
