Raj Nair Executive Vice President of Ford North AmericaEnlarge Photo
Foremost, Raj Nair, formerly executive vice president, product development, and chief technical officer, will assume the title of Executive Vice President of Ford North America.
Nair, who was influential in the development of the GT supercar and Ford's return to Le Mans, will lead North American operations effective June 1. Additionally, Steven Armstrong will lead Ford Europe, Middle East, and Africa, and succeeds Jim Farley. Farley moves to become Executive Vice President and President of Global Markets.
A handful of other notable moves include:
Ford called the global leadership appointments paramount to three priorities moving forward: sharpening operational execution, modernizing the business, and transforming to meet future challenges.
Under Fields' leadership, Ford's share prices dropped 37 percent, in part due to poor fiscal earning performance. Amid pressure from shareholders, Fields announced a 10 percent cut of the automaker's salaried workforce—his final call as chief executive. Fields was shy of three years as CEO, though he's been with Ford for 28 years.