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Ford CEO Jim Hackett out, to be replaced by COO Jim Farley

Jim Hackett, President and CEO, Ford Motor Company delivers the keynote address to media and guests at the 2018 CEO.

Photo by Sam VarnHagen, courtesy of Ford Motor Company

Ford Motor Company has announced that President and CEO Jim Hackett, 65, will retire. Chief Operating Officer Jim Farley, 58, will take over that role, effective October 1. Hackett will continue to serve as a special advisor to the company through March 2021.

Ford's Executive Chairman Bill Ford, who is the great-grandson of company founder Henry Ford as well as tire magnate Harvey Firestone, joined Farley and Hackett at a press conference on Tuesday morning to share the news.

Hackett took over the role of CEO on May 22, 2017, succeeding Mark Fields. While Fields concentrated much of his Public energy on visions of the tomorrow of 50 years from now, Hackett marked his tenure with moves designed to help Ford's bottom line today while planning for the future.

"My goal when I took on the CEO role was to prepare Ford to win in the future," Hackett said. "The hardest thing for a proud, long-lived company to do is change to meet the challenges of the world it's entering rather than the world it has known. I'm very proud of how far we have come in creating a modern Ford and I am very optimistic about the future.

"I have worked side-by-side with Jim Farley for the past three years and have the greatest confidence in him as a person and a leader," Hackett said. "He has been instrumental in crafting our new product portfolio and redesigning our businesses around the world. He is also a change agent with a deep understanding of how to lead Ford in this new era defined by smart vehicles in a smart world."

During his tenure, Ford has discontinued most of its cars while bringing SUVs and trucks to the forefront. Hackett oversaw the launch of the new Escape and Explorer in the U.S. as well as the debut of the next-generation of Ford F-150, a new-for-the-U.S. Ranger, the company's best-selling model, and fresh lineup infusions in the form of the Mustang Mach-E all-electric crossover, the Bronco family of products, and a bevy of Mustang variants.

His time at the top will also be remembered for efforts to streamline the business practices of a company that could fairly be described as bloated with bureaucracy. While plants were shuttered to modernize production and jobs were lost as Ford moved to a more direct and modern way of conducting business, Hackett also approved changing Ford's marketing and advertising to a new agency model, changing out to BBDO as creative lead over W+P, which had served the company for 75 years.

Hackett also formed a partnership with Volkswagen Group to develop and distribute electric vehicle technology - a costly venture for companies to undertake on their own. He is also credited with encouraging the development of smart mobility solutions and sustainability practices.

However, Wall Street investors have not been kind to the company during Hackett’s tenure, even as the company allocated $11 billion toward restructuring in an effort to be better prepared for the future. The company is expected to turn a $4-5 billion profit in the second half of 2020 according to Ford CFO Dhivya Suryadevara. In contrast, Tesla, a company that turned its first annual profit ($104 million) in 2019 and has notable quality control, reliability, and human resources issues, has seen its stock soar in recent years.

Prior to his tenure at Ford, Hackett was vice chairman of Steelcase, the global leader in the office furniture industry.

This story is developing and will be updated as new details are available.

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New off-roader

Ford Bronco Production Officially Begins

The Ford Bronco is finally ready for primetime.

Ford

The time is finally here. After years of speculation and several months of pandemic-related delays, the Ford Bronco is starting to roll off the assembly line. The SUV marks the first new Bronco model in Ford's lineup in 15 years, not counting the Bronco Sport, and is one of the most hyped and sought-after vehicles to hit the market in quite some time. Ford's announcement that production has begun will be accompanied by a special YouTube presentation that Ford says will include interviews with the Bronco team and with reservation holders at the automaker's new Modification Center.


2021 Ford Bronco Ford added 2,700 jobs to support Bronco production.Ford


Bronco production has driven Ford to invest $750 million into its Michigan Assembly Plant, and the automaker says it has added 2,700 jobs to support the rollout. Ford's push to begin production can't come soon enough. Over 125,000 Bronco orders have been placed, and multiple delays have pushed the vehicle's arrival back, meaning there is considerable demand for the off-road legend.

Ford is ready to capitalize on the craze and will offer several ways to customize the new vehicle. At its 1.7 million square-foot Modification Center, The Blue Oval will factory-install several optional modifications that include equipment such as a front bumper safari bar, graphics packages, roof racks, and more. That's on top of more than 200 factory-backed accessories that can be installed at the dealer, either at or after the time of purchase.


2021 Ford Bronco Delays and production difficulties have pushed the Bronco back.Ford


If you are hoping to get behind the wheel of a new Bronco, it could be a while. Even buyers that have been in line for a while now might not see their new vehicle until late 2021 or 2022, and the vehicle's official rollout will almost certainly re-spike demand. Even so, many feel it's worth the wait, and Ford's vehicle configuration tool is live, so go check it out for yourself.

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The F-Type P450 cars replace the P300 and P380 as part of the Jaguar lineup.

Photo courtesy of Jaguar

Two new versions of the Jaguar F-Type are on the horizon. New versions of the model have been created to further the car's luxury proposition and both are powered by a roaring V8 engine. The new P450 variants replace the P300 and P380 models currently in the lineup. Jaguar is keeping the F-Type R around.

2022 Jaguar F-Type P450

The 2022 Jaguar F-Type P450 will be available as a coupe or convertible in P450 RWD or P450 R-DYNAMIC AWD grades. All varieties come with a 444-horsepower supercharged V8 under the hood that achieves 428 pound-feet of torque. An electronic active differential is standard. In all configurations, the car gets from zero to 60 mph in 4.4 seconds and has a top speed of 177 mph.

2022 Jaguar F-Type P450 The car has received minor exterior updates from the 2021 model.Photo courtesy of Jaguar

In a nod to its suburban buyers, the F-Type has a Quiet Star mode that allows a more subtle roar out the back side of the car upon startup. Drivers who don't care about keeping quiet can switch the car in to Dynamic mode and let the rumble out.

Each F-Type P450 rides on 20-inch wheels, has larger brakes than traditional F-Type models, and has the switchable exhaust. Double J-Blade daytime running lights feature up front while new slender rear lights allow the body of the car to speak for itself.

Buyers who get the F-Type P450 R-Dynamic AWD get bespoke badging; a gloss black front splitter, side sills, valance, and venturi; auto-dimming, power- folding, heated door mirrors with memory; and 20-inch Style 6003, split-spoke, gloss Dark Grey with Contrast Diamond Turned Finish Wheels.

2022 Jaguar F-Type P450 The interior sports a refined appearance.Photo courtesy of Jaguar

Monogram stitch patterns on the car's seats and interior accents in Windsor Leather and satin-finish Noble Chrome enhance the interior. Additionally, there are "Jaguar Est.1935" markings on the center console finisher, glovebox release button surround, and seatbelt guides. Six-way electric power seats are standard on F-Type P450 RWD, while F-Type P450 R-Dynamic AWD adds 12-way electric memory front seats, electrically adjustable steering column with memory, Delta Aluminum Center Console, and R-Dynamic branded metal treadplates as standard equipment.

A 12.3-inch driver information display is standard.

F-Type P450 is available in 11 standard exterior colors, and can be ordered in over a dozen custom SVO paint finishes. It starts at $69,900 for the P450 RWD Coupe and $79,900 for the R450 R-Dynamic AWD Coupe.

2022 Jaguar F-Type R

The F-Type R is the pinnacle of the Jaguar lineup with torque on-demand all-wheel drive, Jaguar Intelligent Driveline Dynamics control technology, a double wishbone front and rear suspension, and electric power-assisted steering.

It can get from zero to 60 mph in 3.5 seconds and has an electronically limited top speed of 186 mph thanks to its 575-horsepower supercharged V8 engine. All-wheel drive is standard.

This model starts at $103,200.

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