Hyperdrive
Ford Board Leaves Embattled CEO With Little Room for Error
- ‘We cannot wait year and years,’ soon-to-be COO Farley says
- Hackett ‘can’t miss a beat’ anymore after botched Explorer
Jim Hackett
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
A little executive bloodletting can sometimes ease the pressure on an embattled chief executive officer. But Jim Hackett is unlikely to see any letup from Ford Motor Co.’s board following the surprise early retirement of one his two top lieutenants.
Joe Hinrichs, Ford’s 53-year-old automotive president, will leave on March 1 after almost two decades with the company. As a rising star under celebrated former CEO Alan Mulally, he was put on the fast track to be a potential heir to the top job.