Ford Promotes One President, Loses the Other
- Joe Hinrichs, 53, is retiring from company after Explorer flub
- Jim Farley becoming COO; product chief Thai-Tang adds duties
Jim Farley
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Ford Motor Co. promoted one of the two presidents seen as leading candidates to become the next chief executive officer while the other leaves the automaker in the midst of a years-long slump.
Jim Farley, 57, will become chief operating officer as Joe Hinrichs, 53, retires after 19 years with the company. Ford announced the moves days after projecting 2020 profit that was well below Wall Street’s expectations, sending its shares plunging the most in nine years.