Summary
Ford Motor Company has announced a significant organizational change with the formation of Ford Smart Mobility LLC, a new subsidiary dedicated to developing and investing in future mobility services. James P. Hackett has been appointed Chairman of this new venture. To focus on this strategic initiative, Mr. Hackett has resigned from his position on Ford's Board of Directors, effective March 10, 2016. This move signals Ford's commitment to exploring and capitalizing on new opportunities within the evolving automotive landscape, beyond traditional vehicle manufacturing.
Key Highlights
- 1Ford Motor Company established Ford Smart Mobility LLC, a new subsidiary focused on emerging mobility services.
- 2James P. Hackett appointed Chairman of Ford Smart Mobility LLC.
- 3James P. Hackett resigned from Ford's Board of Directors, effective March 10, 2016.
- 4The new subsidiary aims to design, build, grow, and invest in new mobility solutions.
- 5This announcement indicates a strategic shift towards future-oriented transportation services.
- 6The news was communicated via a press release filed as an exhibit to the 8-K.