 "Ford reshuffles senior management; new CEO to rely on veterans")
Ford Motor Company on Thursday outlined a broad reshuffling of senior management under its new chief executive officer, including a new vice president for autonomous and electric vehicles hired away from ride services power Uber.
James Hackett, named CEO on Monday, has said he wants to streamline the company's hierarchy and speed up decision-making. But Thursday's executive moves indicate Hackett will rely mainly on Ford veterans to get the job done, instead of bringing in outside talent.
The new vice president for Ford's autonomous vehicles and electrification, Sherif Marakby, was hired away from Uber Technologies Inc, where he was vice president of global vehicle programs. Prior to joining Uber last year, Marakby was at Ford for more than 25 years and worked on hybrid and electric vehicles.
Ford will also combine its purchasing and product development operations under Hau Thai-Tang, previously head of global purchasing. Thai-Tang, 50, will have the task of simultaneously accelerating vehicle development and reining in costs as rival General Motors Co unleashes a volley of models aimed at the heart of Ford's product lineup.
Raj Nair, currently Ford's executive vice president of product development and chief technical officer, will take over as president, North America, effective June 1, the company said. He will be responsible for operations that generate about 90 percent of Ford's global profits.
In other moves, the No. 2 US automaker named Steven Armstrong as head of Europe, Middle East and Africa and Peter Fleet as chief of Asia Pacific and China.
Armstrong is currently chief operating officer for Ford of Europe, while Fleet is in charge of sales and marketing for the Asia-Pacific region.
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Last week, the company announced plans to cut 1,400 white-collar positions and is expected to make significant cost cuts in the coming months.
Hackett, who replaced Mark Fields, is the latest in a line of non-family CEOs given a mandate to change the management culture at one of the auto industry's oldest institutions.
Shares dipped 0.2 per cent to $10.92 on Thursday. The stock is down about 36 per cent since Fields took over three years ago at the peak of the US auto industry's recovery from the crisis last decade.