| 9:23 AM EST

Farley to Replace Hackett at Ford

Hackett retiring at 65; Farley taking the reins at 58. Effective October 1
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“I love Ford and I am honored by the opportunity to serve and create value for Ford’s employees, customers, dealers, communities and all of our stakeholders. Jim Hackett has laid the foundation for a really vibrant future and we have made tremendous progress in the past three years. I am so excited to work together with the whole Ford team to realize the full potential of this great company in a new era.”

That’s Jim Farley, chief operating officer of Ford Motor Company.

Jim Hackett, of course, is the president and CEO of Ford.

Hackett and Farley

Jim Hackett (rear) and Jim Farley. Ford leadership change effective October 1. (Image: Ford)

Farley made the encomium to the company and its present CEO because on October 1 Jim Farley will be replacing Jim Hackett as president and CEO.

The two are to spend the next couple of months working through a transition.

Bill Ford, Ford executive chairman, chimed in: “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.

“Our new product vision—led by the Mustang Mach-E, new F-150 and Bronco family—is taking shape. We now have compelling plans for electric and autonomous vehicles, as well as full vehicle connectivity. And we are becoming much more nimble, which was apparent when we quickly mobilized to make life-saving equipment at the outset of the pandemic.”

And as for Farley, Bill Ford 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. 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.”

Hackett said of his tenure: “My goal when I took on the CEO role was to prepare Ford to win in the future. The hardest thing for a proud, long-lived company to do is change to meet the challenges of the world it’s entering rather than the world it has known. I’m very proud of how far we have come in creating a modern Ford and I am very optimistic about the future.”

Hackett said of Farley: “I have worked side-by-side with Jim Farley for the past three years and have the greatest confidence in him as a person and a leader. He has been instrumental in crafting our new product portfolio and redesigning our businesses around the world. He is also a change agent with a deep understanding of how to lead Ford in this new era defined by smart vehicles in a smart world.”

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