Detroit, Michigan – Ford’s new CEO Jim Farley is shaking things up on his first day in his new position by announcing that John Lawler will be taking over the CFO position at the company, according to a report from the Associated Press.
Lawler will be moving up from autonomous vehicle operations to replace Tim Stone, Ford CFO since April of last year when he made the move from Amazon.
Stone’s time with Ford will expire on Oct. 15 when he will step aside for Lawler, a 30-year company veteran.
This all comes as of Farley’s plan for restructuring and reorganizing the company in the hopes of hitting a sustained eight percent pretax profit margin, although no timeframe has been set.
“We are going to compete like a challenger — allocate capital to higher growth and return opportunities to create value — and earn customers for life through great products and a rewarding ownership experience,” said Farley in a statement.
