Ford to replace CEO Mark Fields? 0

Reports are suggesting that Ford is set to replace current CEO, Mark Fields, following a major reshuffle at the car manufacturer.

In an article published by the New York Times, his expected departure comes as the company attempts to recover following a period of weak sales, falling profits and an almost 40% decline in share price since Fields took the position back in 2014.

Early speculation is touting James Hackett – currently head of the firm’s autonomous driving unit – as his likely replacement.

This news comes on the back of the car giant saying it plans to axe around 10% of its global workforce.

Ford employs over 200,000 people, including 100,000 in the US and 23,000 in Asia. It is not known how these potential cuts would affect the company’s UK plants in Bridgend, Dagenham and Halewood.

The company’s sales this April were 7% down in North America and 11% lower in Europe compared with the same period in 2016. Costs related to safety recalls were also said to have impacted the firm’s finances substantially.

As yet, the company have declined to comment on the reports.

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