Ford Names James Hackett As New CEO

Ford Motor Co abruptly named James Hackett as chief executive on Monday, responding to investors' growing unease about the U.S.automaker's slumping stock price and its ability to counter threats from longtime rivals and Silicon Valley.

Hackett, 62, a turnaround expert who for the past year has led the Ford unit developing self-driving cars and related projects, replaces Mark Fields, 56, who spent less than three years as CEO.

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