Ford’s New Ceo May Be About To Go On A Silicon Valley Shopping Spree (f)

dmuoio@businessinsider.com (Danielle Muoio), Business Insider
Sat, 05/27/2017 - 7:07am

Ford's decision to push CEO Mark Fields out of the company has a lot to do with its stock price that has plummeted 40% during his three years of leadership. But its decision to replace Fields with Jim Hackett, the exec who was overseeing Ford's Smart Mobility unit that's responsible for autonomous tech, shows Ford's desire to shift its narrative as an automaker to a mobility company. At a time when Tesla's market value has risen dramatically to challenge both Ford and GM, Ford sees the benefit of of not only channeling more resources into electrification and autonomous tech, but of making a public display of its intention to do so. We can expect this to play out in the form of a Silicon Valley shopping spree, where Ford will either look to acquire or invest in promising startups. Ford has already shown it's willing to spend the big bucks on its self-driving tech before Hackett took over as CEO.

Topics: ceo mark fields ford's smart mobility gm ceo it pivotal velodyne argo ai julie lodge-jarrett business insider march automakers waymo ford chairman bill ford apple's steve jobs steelcase ai machine learning big data tech firm morgan stanley adam jonas michigan athletic department southeast michigan jim harbaugh watch fields ceo hackett hackett jim hackett ford ford's tesla silicon valley ford university michigan jim harbaugh talent company self-driving companies resources autonomous greater call ramp invest ties challenge press buy monday win decision automotive program making acquire furniture efforts spend shown investments driving

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Ford’s New Ceo May Be About To Go On A Silicon Valley Shopping Spree (f)

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