Jim Farley to Take Over as Ford CEO & President Effective October 1st, Jim Hackett to Retire

Ford Motor Company has just announced that effective October 1st, Jim Farley will succeed Jim Hackett as Ford’s President and CEO.

Jim Hackett, who has led the company since 2017, has elected to retire from Ford Motor Company. Jim Farley, the current chief operating officer, will work closely with Hackett in the next two months to take over as president and CEO of Ford.

Said Farley: “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.”

Read inside for more about this Ford leadership change.