DETROIT -- Dealers and industry insiders had a variety of reactions on Monday to Ford Motor Co. naming Jim Farley as the company's new CEO, effective Oct. 1, replacing the retiring Jim Hackett.
Todd Szott, dealer partner, Szott Automotive in Holly, Mich.:
"Overall I like the smooth transition that Ford has been working on for a while. Jim Farley was named COO earlier in the year and there was some thinking about the future and where Ford was headed as far as leadership goes. The fact that Jim Hackett is going to stay on for a number of months will enable a smooth transition to an internal Ford person. Ford and Bill Ford Jr. has made a nice transition to one CEO to another."
Glenn Stevens, executive director, MICHauto:
"MICHauto and the Chamber congratulate Jim Farley who will take the helm as CEO. Jim is not only a veteran of the industry, but he has a passion for Ford's signature performance vehicles and vision that will serve the people and products of Ford well."
Jessica Caldwell, executive director of insights, Edmunds:
"Since Ford is about to enter a new execution phase, the company likely decided it was time for a more experienced auto executive who knows the ins and outs of the industry to lead the charge, as opposed to an outsider trying to create change. Farley's specialty is marketing, which will play a critical role as Ford gears up for significant product launches that are intended to revive and refresh Ford's image."
UAW President Rory Gamble:
"Having worked with Jim Farley through the many challenges of the COVID-19 pandemic, I know that Ford Motor Company is in steady hands that will continue the long Ford family tradition of leadership that respects its workforce and keeps communications open in a challenging industry."