Ford (F) has named Jim Farley, who had been one of the top executives of Ford’s global operations, as president of New Businesses, Technology & Strategy. He’ll concentrate on the development of the next generation of cars and trucks.
Farley had previously been president of global markets, overseeing Ford’s business units around the world, as well as its Lincoln luxury brand. His new position is effective May 1.
In his new job Farley also will be responsible for the automaker’s partnerships, including its growing alliance with Volkswagen. Farley will take over duties of Marcy Klevorn, who had been president of Ford’s Mobility unit, and who is retiring in October.
General Motors (GM) made a similar executive move last November when it named Dan Ammann, who had been GM president, as CEO of Cruise, its new vehicle unit.
Joe Hinrichs who had been president of Ford’s global operations, including its manufacturing, will now assume many of Farley’s former duties and take the title of president of automotive at Ford.
Ford is in the middle of an $11 billion transformation plan designed to free up resources to make the company competitive as the industry changes. Automakers are scrambling to design self-driving and electric vehicles, and to provide ride hailing services to customers rather than simply sell them vehicles.