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As profit dwindles, Ford is said to replace its CEO

from The New York Times

In a shake-up reflecting the pressures on the American auto industry, Ford Motor is replacing its chief executive, Mark Fields, according to officials briefed on the move. Jim Hackett, who oversees the Ford subsidiary that works on autonomous vehicles, will take the reins from Fields. During Fields’ three-year tenure — a period when Ford’s shares dropped 40 percent — he came under fire from investors and Ford’s board for failing to expand the company’s core auto business and for lagging in developing the high-tech cars of the future. more

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