Ford Motor Co’s incoming Chief Executive Jim Farley wants to expand operations into related technology fields
Ford Motor Co’s incoming Chief Executive Jim Farley said on Tuesday he wants to expand the automaker’s operations into related technology fields, including software, fleet management and electric vehicle charging.
“These are new growth initiatives that could create a lot of value for the company,” Farley told Reuters, after Ford announced that he will succeed Jim Hackett as the automaker’s fourth CEO since 2014.
In addition to Ford’s work on self-driving vehicles, “these are concrete areas that will change Ford,” Farley said. “They’re going to impact the company’s future look and feel.”
In the meantime, Farley, 58, must wrestle with a painful restructuring of Ford’s global operations amid the ravages of the coronavirus crisis that has saddled the No. 2 U.S. automaker with large amounts of debt.
Executive Chairman Bill Ford said the company had not considered outside candidates because “our board felt that we were on the right path” with Farley.
“I wouldn’t expect any big surprises,” Ford said in terms of additional management changes.
Farley, who joined the company in 2007, was named chief operating officer in March soon after his main internal rival for the top role at the automaker, Joe Hinrichs, announced his retirement.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Severity: Warning
Message: count(): Parameter must be an array or an object that implements Countable
Filename: amp/news_details_amp.php
Line Number: 252
Backtrace:
File: /home/smartmarketnews/public_html/application/views/amp/news_details_amp.php
Line: 252
Function: _error_handler
File: /home/smartmarketnews/public_html/application/controllers/Amp_controller.php
Line: 41
Function: view
File: /home/smartmarketnews/public_html/index.php
Line: 315
Function: require_once
Smarter Decisions with Smart News
Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.
media@smartmarketnews.com | sales@smartmarketnews.com
Contact Us