Ford Names Jim Farley as New CEO, Succeeding Jim Hackett

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

The company said Tuesday that 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.

Ford…



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