Jim Farley’s first day as Ford’s new CEO is today. Related: There is also a big management shakeup.
The changes, according to Ford, will “drive growth, improve execution, speed transformation.” What this really means, as always with a management shakeup, is that Farley simply believes that other people would be better than the current people.
In total: Ford’s chief financial officer is out, its chief marketing officer is out, its chief information officer is out, and its vice president of manufacturing in Europe is out.
“During the past three years, under Jim Hackett’s leadership, we have made meaningful progress and opened the door to becoming a vibrant, profitably growing company,” Farley said. “Now it’s time to charge through that door.”
“During the past three years Jim Hackett has not turned Ford into a vibrant, profitably growing company” is what Farley meant. The casualties, from Ford’s press release:
John Lawler, 54, will become CFO today, overseeing the Finance and Ford Motor Credit organizations. Lawler will succeed Tim Stone, who has accepted a position as chief operating officer and chief financial officer at ASAPP Inc., a research-driven, artificial-intelligence software company. Stone will remain with Ford through Oct. 15 to ensure a smooth transition.
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Jeff Lemmer, Ford’s chief information officer, will retire Jan. 1 after 33 years with the company. A successor for Lemmer as CIO, who will lead the Technology and Software platform, will be announced in the near future.
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Joy Falotico, 53, who has been president of Lincoln and Ford’s chief marketing officer for nearly three years, will be dedicated solely to further growing Ford’s luxury brand once a new chief marketing officer is named shortly. She will report to Kumar Galhotra, president, The Americas and International Markets.
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Separately, in Europe, Dale Wishnousky, 57, vice president, Manufacturing, Ford of Europe, will retire at the end of the year. His career with the company started in 1987 and spanned key manufacturing and service leadership roles in multiple countries. Kieran Cahill, 53, previously director, Manufacturing and Strategic Projects, Ford of Europe, succeeds Wishnousky, effective immediately.
Hackett’s big moves as CEO—his biggest being getting rid of the sedans—have been sort of interesting, but more interesting will be how Farley deals with electrification. I don’t think today’s management moves tell us much more than there’s a new sheriff in town, but, as always, the proof is in the pudding or whatever.