Jim Farley. Photo credit: Ford

Automaker Ford has announced a landmark leadership change, with its current CEO Jim Hackett agreeing to step down and handover to Jim Farley, a long-time Ford executive who is currently the company’s chief operating officer. Farley will officially takeover as Ford’s new chief executive on the 1st of October, replacing Jim Hackett who has held the position for three years. Farley is taking the position of CEO after more than a decade at Ford, which he joined in 2007 as global head of Marketing and Sales. Among other roes he has held at the automaker include leading its European and South American divisions as well as its New Businesses, Technology & Strategy team.

Hackett is stepping down by next month but’ll continue to serve as a special adviser to Ford through March of 2021.