(Corrects to "heads" from "head" in headline)
May 25 Ford Motor Co, which earlier this
week named turnaround expert James Hackett as its chief
executive officer, will announce replacements for some of its
key executive positions as early as Thursday, the Financial
Times reported, citing sources.
The No.2 U.S. automaker will name Steven Armstrong as the
new head of Europe, Middle East and Africa and Peter Fleet as
the new head of Asia Pacific and China, according to three
people familiar with the plans, FT said. (on.ft.com/2qiTSVE)
Ford is under pressure from investors over its slumping
stock price and its ability to counter threats from longtime
rivals and Silicon Valley.
Hackett, who replaced Mark Fields, is the latest in a line
of non-family CEOs brought in with a mandate to change the
management culture at one of the auto industry's oldest
The company announced plans to cut 1,400 white-collar
positions last week and is expected to look at further
significant cost cuts in the coming months.
(Reporting by Sweta Singh in Bengaluru; Editing by Sriraj