Ford’s stock slump under CEO Hackett now exceeds his predecessor

Ford Motor Co. stock has fallen further under Chief Executive Officer Jim Hackett than it did during the leadership of his predecessor, who was ousted by the company’s board.

Image courtesy: Ford
Image courtesy: Ford

The automaker’s shares have declined 38% since Hackett became CEO in May 2017, replacing Mark Fields, who was pushed out by Ford directors unhappy with the direction of the company. During the 35-month tenure of Fields as CEO, Ford’s stock fell 37%.

Hackett is under pressure to accelerate his $11 billion turnaround plan after a disastrous rollout of the redesigned Explorer SUV led to dismal earnings and a disappointing profit forecast. While Hackett maintains the support of Executive Chairman Bill Ford, great-grandson of founder Henry Ford, he shook up management last month and installed Jim Farley as his new No. 2 executive to speed up the company’s revival.

Trending Cars

Find more Cars

Investors have continued to sell off Ford shares, which fell 4.8% to close at $6.74 in New York trading on Thursday, the lowest in almost 11 years.

“The company must earn back the trust of the market by delivering results ... as in not missing numbers for the rest of this year and showing a real path to improving profitability significantly," Adam Jonas, an analyst for Morgan Stanley, wrote in a March 3 research note. He rates Ford the equivalent of a buy but last month switched his top pick from Ford to General Motors Co.

First Published Date: 06 Mar 2020, 09:23 AM IST
Shopping Bag Shop Now
73% OFF
IDELLA Car Duster, Extendable Long Handle Microfiber Car Duster Exterior Scratch Free Car Cleaning Tool, Car Dust Brush for Truck, Pickup, SUV, RV, Motorcycle, Vehicles Cleaning,(Multicolor)
Rs. 239 Rs. 899
64% OFF
Antson Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable, Portable,Rechargeable Vacuum (2 in 1)
Rs. 699 Rs. 1,939
74% OFF
Microfiber Car Cleaning Soft Brush Ideal as Mop Duster, Washing Brush with Long Handle, Dust Cleaner Car Wash Brush with Handle, Soft Brush Scratch Free, Cleaning Dashboard Curved Design - Grey
Rs. 389 Rs. 1,499
1% OFF
GOODAIR Clear Car Windshield Enhancer | Classic |12 Tablets
Rs. 295 Rs. 299

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
Powered by: Acko Logo
Please be noted that any information provided herein above will be received by Acko General Insurance Limited (“Acko”). By mentioning the above information, you agree to provide these details and information to Acko.
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.