By Mike Colias

Ford Motor Co.'s Chief Operating Officer Jim Farley will take over as chief executive, replacing the retiring Jim Hackett, who is more than three years into a turnaround effort that has yet to lift profits and the auto maker's depressed share price.

The company said Tuesday Mr. Farley, 58 years old, will succeed Mr. Hackett, 65, on Oct. 1. Mr. Hackett will remain in an advisory role through next spring, the company said.

Write to Mike Colias at Mike.Colias@wsj.com

(END) Dow Jones Newswires

August 04, 2020 09:34 ET (13:34 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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