Ford Motor Company announced Jim Hackett will be the new president and CEO of the company.

Hackett, who is 62, will lead Ford’s worldwide operations and 202,000 employees globally. He replaces Mark Fields, 56, who will retire from Ford after 28-years with the company.

“We’re moving from a position of strength to transform Ford for the future,” Bill Ford said. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto industry and the broader mobility space. He’s a true visionary who brings a unique, human-centered leadership approach to our culture, products and services that will unlock the potential of our people and our business.”

According to a national release from Ford, Hackett along with Bill Ford, will focus on three priorities:

• Sharpening operational execution across the global business to further enhance quality, go-to-market strategy; product launch, while decisively addressing underperforming parts of the business
• Modernizing Ford’s business, using new tools and techniques to unleash innovation, speed decision making and improve efficiency. This includes increasingly leveraging big data, artificial intelligence, advanced robotics, 3D printing and more
• Transforming the company to meet future challenges, ensuring the company has the right culture, talent, strategic processes and nimbleness

Source: media.ford.com