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Tuesday, 04 August 2020 19:03

Ford’s New CEO Jim Farley is Company’s Key to Competing with Tesla

Written by Joey Klender, Teslarati
Jim Hackett, left, and new Ford CEO Jim Farley, right. Jim Hackett, left, and new Ford CEO Jim Farley, right. Ford

Index

Ford has a new frontman in Jim Farley, and the company’s competitive edge in electric vehicle manufacturing may come from the fresh leadership.

The Detroit legacy automaker announced Aug. 4 that CEO Jim Hackett would be stepping down from his pedestal as the leader of Ford Motor Company. The reigns have been handed to COO Jim Farley, who has been with the company since 2007.

 

Ford hired Farley in 2007. In April 2019, Farley was chosen to lead Ford’s new businesses, technolgy and strategy team, which helped the automaker come up with effective strategies to capitalize on the everchanging automotive industry. This included software, artificial intelligence, automation and electrification.

 

Bill Ford, the company’s executive chairman, said Hackett had done things for the automaker in the last three years that have accelerated the company’s transition into new forms of vehicle technology.

 

“I am very grateful to Jim Hackett for all he has done to modernize Ford and prepare us to compete and win in the future,” Bill Ford said.

 

Hackett has made it a point since joining Ford to move quickly and efficiently into an era of smart vehicles, with a higher focus on the wants and needs of customers, a press release from the automaker stated.

 

Now, Farley will lead Ford’s plans for the foreseeable future. A proven track record with deep global experience has Bill Ford’s optimism for the future at an all-time high.

 

A company press release said:

 

“Jim Farley matches an innate feel for cars and customers with great instincts for the future and the new technologies that are changing our industry,” Bill Ford said. “Jim’s passion for great vehicles and his intense drive for results are well known, and I have also seen him develop into a transformational leader with the determination and foresight to help Ford thrive into the future.”

 

Although Ford’s initial plans are not to accelerate into a fully electric lineup of cars, they do have some battery-powered models on the way, led by the Mustang Mach-E and electric F-150, which Farley says is critical to the company’s evolution for years to come.


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