Ford replaces CEO Mark Fields as shares plunge
Ford Motor has announced it was replacing CEO Mark Fields with James Hackett, the head of the unit developing self-driving cars, in response to investors' growing unease over the carmaker's stock performance. The news comes after a 25% drop in car sales this year and layoffs of 1,400 employees. Notably, Ford shares have plunged 37% since Fields started in 2014.