Jim Hackett replaces Mark Fields.

Ford Motor Company has named former Stellcase CEO, Jim Hackett as Ford’s new President and CEO. Reporting to Executive Chairman Bill Ford, Hackett will lead Ford’s worldwide operations. He succeeds Mark Fields, who is retiring from Ford.

“We’re moving from a position of strength to transform Ford for the future,” Bill Ford said. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto industry and the broader mobility space.”