DETROIT (AP) — Ford Chief Operating Officer Jim Farley will lead the storied automaker into the future starting Oct. 1 when current CEO Jim Hackett retires.
The company has struggled in recent years and is in the midst of an $11 billion restructuring plan designed to make it leaner and crank out new vehicles to replace what was an aging model lineup.
As COO, the 58-year-old Farley led the company’s global markets and product development. He was in charge as Ford rolled out a revamped F-150 pickup, the new Bronco off-road SUV brand and the electric Mustang Mach-E SUV.
Farley was hired away from Toyota by then-CEO Alan Mulally in November of 2007 to run Ford’s marketing operations.
Current CEO Jim Hackett once headed up Grand Rapids-based Steelcase.