Ford CEO Mark Fields About To Lose His Job, Reports Suggest

Amid falling sales, Ford is reportedly going to replace current CEO Mark Fields with the firm's autonomous vehicle boss James Hackett

It looks like it’ll be all change at the top for Ford today, with the firm reportedly set to remove Mark Fields as CEO.

Forbes and The New York Times are both reporting that Fields (above) will be replaced by Jim Hackett today, amid falling sales that have seen Ford’s share price drop by 40 per cent since Fields took the helm in 2014.

Ford is also in the midst of a drastic $3 billion cost-cutting scheme, which will result in its North American and Asian work forces being slashed by 10 per cent.

Hackett (above) will join from Ford Smart Mobility (in other words, the autonomous motoring bit of the company), where he’s been in the position of chairman since March 2016.

Ford is expected to make an official announcement when the New York Stock Exchange opens today at 9.30am Eastern.