New CEO to set faster pace for Ford’s transformation

There's change afoot at Ford with the promise of a new Chief Executive. After three years in the top post Jim Hackett has decided to retire and hand over the reins to current Chief Operating Officer Jim Farley, effective 1 October. The two Jims have been working closely together over the past few years as Hackett had him in mind for a potential successor almost from the start. Given their close relationship, the transition should go smoothly, but Farley faces significantly more friction in other upcoming challenges.