Ford executive-suite drama reached a pinnacle on Tuesday with the surprise departure of Chief Executive Jim Hackett. Under Hacket, who took the reins in May 2017, the stock has lost nearly 40%.
Ford Motor Co. executive-suite drama reached a pinnacle on Tuesday with the surprise departure of Chief Executive Jim Hackett.
Under Hacket, who took the reins in May 2017, the stock has lost nearly 40%. Here’s how it compares to the S&P 500 index in the same period:See:Ford CEO Jim Hackett to retire, to be succeeded by COO Jim Farley Tesla Inc. TSLA, +0.13% is now the world’s most valued car maker, having surpassed Ford’s and General Motors Co.’s GM, +0.62% valuation months ago.
“Between Hinrichs’s unceremonious departure in February to Hackett’s unexpected early retirement, the upper echelon of Ford leadership has struggled to find stable footing for some time,” said Jessica Caldwell, an analyst with Edmunds. “Wall Street has shown its lack of confidence as the stock has languished for years under Hackett’s leadership.”
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