Ford Announces Several Management Appointments

Ford Motor Co. announced Thursday a number of executive appointments as new Chief Executive Jim Hackett rounded out his management team, including leaders of the three key segments of global markets, global operations and mobility. Among the appointments, Sherif Marakby is appointed to the newly created position of vice president of autonomous vehicles and electrification, Neil Schloss will be chief financial officer and Jeff Lemmer will be chief operating officer of mobility. Raj Nair was named president of North America, succeeding Joe Hinrichs. David Schoch, president of Asia Pacific, said he plans to retire after 40 years with the company. Ford had confirmed earlier this week that Hackett would replace Mark Fields as CEO, as Fields announced his retirement. Ford's stock, which edged up 0.3% in premarket trade, has dropped 9.7% year to date through Wednesday, while the S&P 500 has gained 7.4%.