Ford Motor reportedly shuffled its senior leadership team, with plans to replace CEO Mark Fields with executive chief Jim Hackett as a steep stock price decline prompted a review of management, reports said on Monday, citing sources.
The changes were reported by both Forbes and the New York Times, citing unnamed officials.
“We are staying focused on our plan for creating value and profitable growth. We do not comment on speculation or rumors,” a Ford spokesman said in response to CNBC’s emailed request for comment.
Ford’s share price has dropped nearly 40 percent since CEO Mark Fields took the job in 2014. Hackett is currently chairman of Ford Smart Mobility, a Ford Unit started to design, build, grow and invest in emerging mobility services, according the Ford website. He was named to the position March 10, 2016.