Ford Motor Co. announced three leadership changes to fully integrate and accelerate its transformation in a higher-growth and higher-margin business.
Jim Farley has been named chief operating officer, reporting to Jim Hackett, Ford CEO and president; Hau Thai-Tang, chief product development and purchasing officer will add responsibility for Enterprise Product Line Management and connectivity; and Joe Hinrichs is retiring as Ford’s president, Automotive.
These changes will be effective on March 1, 2020.
In his new role, Farley will lead Ford’s effort to strengthen its automotive operations and to deliver a global EBIT margin of at least 8%. He will oversee all of Ford’s global markets and automotive operations, including Product Development; Purchasing; Enterprise Product Line Management; Manufacturing & Labor Affairs; Marketing, Sales & Service; and Quality & New Model Launch. Farley will also retain the leadership of Ford Smart Mobility, Ford’s AV LLC, and Ford’s partnership with Argo AI.
“Hau will be the primary architect as we bring together the vehicle architecture and software stack to create products, services and experiences our customers will love,” Hackett said. “We are moving forward with an integrated approach to vehicles and connected services, all anchored in an obsession for the customer, great design and a commitment to strong returns.”
Farley joined Ford in 2007 as the global head of Marketing and Sales. He later moved on to lead Lincoln, Ford South America, Ford of Europe, and all Ford global markets in successive roles.
Farley has led Ford’s New Business, Technology & Strategy team since April 2019. In this role, he helped the company determine how to capitalize on the changing automotive industry.
Since 2017, Ford has been making progress in transforming the company as technology evolves while also working to improve its bases business, the company noted.