May 22, 2017

Ford to replace chief executive Mark Fields, reports say

Ford chief executive Mark Fields is set to depart following a major reshuffle at the car maker, according to reports. His expected departure, first reported by the New York Times, comes as Ford faces weak sales, falling profits and a near-40% decline in its share price since Mr Fields took up his role in 2014. A Ford spokeswoman declined to comment on the reports. Ford employs more than 200,000 people globally at the end of 2016, including about 101,000 in North America and 23,000 in Asia. In recent years, Ford has invested heavily in self-driving technology and ride-sharing services.

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