Farley to succeed Hackett as Ford CEO and president

Jim Farley will succeed Jim Hackett as Ford Motor Co CEO and president on October 1, the company said on Tuesday.

Hackett, 65, who replaced Mark Fields as CEO in May 2017, is retiring and will be a special adviser to Ford through March 2021.

Farley, 58, joined Ford in 2007 and was head of the company's new businesses, technology and strategy group.