Ford names new chief executive amid restructuring drive

The company has struggled in recent years and is in the midst of an $11bn restructuring plan designed to make it leaner and crank out new vehicles to replace what was an ageing model lineup.

Ford chief operating officer Jim Farley will lead the carmaker into the future starting on October 1 when current chief executive Jim Hackett retires.

The company has struggled in recent years and is in the midst of an $11bn restructuring plan designed to make it leaner and crank out new vehicles to replace what was an ageing model lineup.