Ford is replacing CEO Mark Fields with another exec

Ford said in its official statement that Fields "is retiring", but it is reported that Fields has been fired as a result of the company's slumping stock price, which has dropped almost 40 percent while he was CEO.

The former Steelcase CEO voluntarily recalled wall panels of cubicles at the Pentagon that weren't up to higher fire standards.

During the campaign, Trump regularly attacked Ford for shifting some production to Mexico, falsely claiming that the company planned on shifting all its USA factory jobs there.

Former President and CEO of Ford Motor Co.

Hackett and Bill Ford praised Fields, who was one of the architects of the company's turnaround a decade ago. The announcement comes as Ford emphasized "key global leadership changes in an effort to strengthen core automotive business and capitalize on emerging opportunities".

During a 16-month stretch as interim athletics director at his alma mater, the University of MI, his crowning achievement was hiring former Wolverine quarterback Jim Harbaugh as the MI football team's head coach. In the latter position, he was instrumental in recruiting current head football coach Jim Harbaugh.

Bill Ford insisted Fields was not fired.

"When they asked him to come fix the athletic department, he said, 'Sure, I'd be happy to, '" Ford said at a news conference on Monday.

Sachin- A Billion Dreams: Movie review by the Indian Armed Force Officers
The movie was received with a standing ovation followed by chants "Sachin" "Sachin" from the personnel present. Rakul Preet Singh is overjoyed about her recent interview with cricket legend Sachin Tendulkar .

January 2015: Ford opens a research and development center in Silicon Valley.

As chairman of Smart Mobility, he has helped oversee Ford's acquisition of San Francisco ride sharing startup Chariot and its $1 billion investment in Argo AI, a self-driving startup focused on robotics and artificial intelligence.

Sales in April were down 7% in the United States and 11% lower in Europe compared with a year earlier. Unprofitable small cars have chipped away at some of the profit from SUVs. But Ford is still going ahead with plans to shift all small vehicle production to Mexico. Still, GM faces unhappy investors of its own with its stock slightly below the $33 initial public offering price from November 2010. Traditionally, "these guys live in a little cocoon in the greater Detroit area", making Mulally and Hackett more unusual picks, he said.

He added that it's "important that we're seen by our employees and ultimately the public as the Blue Oval", using the colloquial term for Ford, based in the carmaker's logo.

Barclay's analyst Brian Johnson predicts more emphasis on cost-cutting under Hackett. Ford needs to turn that around for the share price to grow, Johnson said.

He said Hackett is the "right CEO" to lead Ford during this "transformative period for the auto industry and the broader mobility space". Mulally, who joined Ford in 2006 when it was near bankruptcy, was widely credited with ending internal bickering at Ford and streamlining manufacturing.

James Farley, president of Ford's Europe, Middle East and Africa business, will take on a larger role as executive VP and president for global markets, which includes oversight of global marketing sales and service as well as responsibility over the Americas; Europe, Middle East and Africa and Asia Pacific.

Three new executive vice presidents were named to oversee global markets, global operations and mobility as part of the shake-up.

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