Shareholders slammed Fields' performance during an online investor meeting earlier this month.
The replacement comes after Ford shareholders slammed Fields’ performance during an online investor meeting earlier this month, according to the Times.
Ford’s share price has declined by 40% during his tenure, the Times reports. But Fields’ total pay in 2016 went up by 19% compared to 2015, while the company’s pretax profits and sales fell.
Hackett, a Ford board member since 2013, had been the CEO of office furniture maker Steelcase scs before joining Ford full-time.