Ford’s new president steps up the tech

Jim Farley, the new Ford president and chief executive from October 1, will drive the company’s EV, AV and connected vehicle plans.

Ford’s current chief operating officer, Farley (58) replaces Jim Hackett (65) who retires from Ford after leading its transformation since 2017.

Under Hackett’s leadership Ford moved aggressively into the new era of smart vehicles and drove a deeper focus on customers.

Ford also restructured operations, invigorated its product portfolio and reduced bureaucracy.

“Our new product vision – led by the Mustang Mach-E, new F-150 and Bronco family – is taking shape,” executive chairman Bill Ford says.

“We now have plans for electric and autonomous vehicles (AVs), as well as full vehicle connectivity.”

Farley collaborated with Hackett during the past three years to develop Ford’s “Creating Tomorrow Together” plan to transform Ford into a higher-growth, higher-margin business.

“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 says.

Farley joined Ford in 2007 as global head of marketing and sales and went on to lead Lincoln, Ford South America, Ford of Europe and all Ford global markets.

In April 2019, he was chosen to lead Ford’s new businesses, technology and strategy team, helping the company to capitalise on forces reshaping the industry such as software platforms, connectivity, AI, automation and new forms of propulsion.

He was named chief operating officer in February 2020.

Hackett, who will continue as a special advisor to Ford through to March 2021, says his goal as chief executive was to prepare Ford for 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 says Farley has been instrumental in crafting Ford’s new product portfolio and redesigning its 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.”