On Monday, Ford replaced CEO Mark Fields with Jim Hackett, a former Steelcase CEO and Ford board member who had been running the company's Smart Mobility initiative.
The move came as Ford stock had declined 40% since Fields took over as CEO in 2014.
Jim Hackett and Ford Chairman Bill Ford intend to change that. They plan to make changes and innovations by adding new technologies such as robotics and artificial intelligence will transform the core of the company.
Company's shares rose by near 2% on Monday.
Source: Business Insider
Jr Trader Ivan Ivanov
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