Shares of Ford Motor Co. eased about 0.1% in morning trading Tuesday, while the S&P 500 dropped 0.5%, after the auto maker announced leadership changes as it looks to accelerate its "Ford+" growth plan, and as it enters an "intense period of execution" of its $50 billion investment in electric vehicles (EVs). The company said Chief Financial Officer John Lawler will oversee on an interim basis a makeover of global supply chain operations until a permanent chief global supply chain officer is named. In addition, Doug Field was named chief advanced product development and technology officer; Lisa Drake, vice president of EV industrialization, will also lead manufacturing engineering as Ford looks to boost EV production to 2 million a year by the end of 2026; and Chuck Gray, VP of EV technology, was named VP of vehicle hardware engineering. And Roz Ho will join Ford from HP Inc. and Jae Park will join from Alphabet Inc.'s Google to work on developing fully connected, software-defined vehicles and advanced driver assistance systems.
(END) Dow Jones Newswires
September 22, 2022 09:40 ET (13:40 GMT)
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