Rumors were swirling Sunday night about a shakeup, including the possibility that Chief Executive Mark Fields would be replaced by retired Steelcase CEO James Hackett, who is now chairman of Ford's Smart Mobility unit. The Wall Street Journal reported that Bill Ford, Ford’s executive chairman, and the board were heavily involved in the discussions, and that Fields has proposed certain personnel changes as part of the process. A Ford spokesman declined to comment on any management changes, saying only that "we are staying focused on our plan for creating value and profitable growth. We do not comment on speculation or rumors.”Last week, Ford paid restricted stock bonuses to several senior executives under its long-term incentive program. “We are awarding a special stock award to key leaders in critical areas as part of their long-term compensation.”Ford shares are down 40 percent since Fields became chief executive in 2014.

Source: Forbes May 22, 2017 01:52 UTC