Ford Motor Co. plans to replace CEO Mark Fields with Jim Hackett, a Ford executive who leads a unit that works on autonomous vehicles, according to multiple published reports citing unnamed sources. The company expects to make an announcement on Monday morning, a New York Times report said. Fields began Ford’s transition from a traditional automaker into a “mobility” company, but there have been rumblings that he didn’t focus enough on the core business, as well as worries about Ford’s sagging stock price, an AP report said. Hackett is known for previously serving as CEO of Steelcase Inc. and transforming that furniture company.
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