The shakeup is a result of Executive Chairman Bill Ford and the rest of the board losing confidence in Fields’ leadership, according to people familiar with the board’s thinking. Fields replaced Alan Mulally in mid-2014, but lacked his predecessor’s ability to rally employees around a common mission or to make critical decisions about the company’s strategy.
“Without Alan, it’s back to the inmates running the asylum,” said one insider.
Directors were increasingly alarmed by the deterioration in Ford’s business, despite hefty profits from its flagship F-series pickup truck line, said people familiar with the board’s thinking.
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