Ford, in a sweeping management shake-up, named Jim Hackett, former CEO of Steelcase, as its new chief executive, replacing Mark Fields, who is stepping down amid pressure from shareholders over a slumping stock price and profit pressures. Ford said Fields, 56, has elected to retire from the company after 28 years.
Three days after being named Ford CEO, Jim Hackett picked product development boss Raj Nair to lead Ford North America, which means Ford of Canada CEO Mark Buzzell now reports to Nair.
The auto industries of Canada, the United States and Mexico agree there should be no changes to rules of origin in NAFTA, the president of the Mexican automakers association said.
Unifor President Jerry Dias said he is not concerned about potential job cuts under new Ford CEO Jim Hackett, who oversaw about 12,000 layoffs as head of office furniture company Steelcase Inc.
Ford of Canada says it has outgrown its Edmonton Parts Distribution Centre and will build a new larger facility about 35 km south in the neighbouring city of Leduc.
Ford Motor Co. plans to offer early retirement and separation packages to 600 Canadian salaried workers as part of an effort to cut 10 per cent of its white-collar employees in North America and Asia.
Ford is preparing major cuts to its worldwide workforce amid renewed efforts to hike profits and address the company's falling share price, The Wall Street Journal reported, citing people briefed on the move.
There's a Canadian connection to a rare Ford Mustang scheduled to be sold at auction this week. The blue 1965 sports car is projected to sell for US $500,000.
Ford of Canada has agreed to recall 43,600 F-150 pickup trucks after initially resisting Transport Minister Marc Garneau's call for the automaker to repair faulty brake parts.
Ford's top executive for the Americas, Joe Hinrichs, offers two specific ways to improve the North American Free Trade Agreement.
Ford is recalling nearly 21,000 police and civilian models of its Explorer SUV in only the Prairies to replace suspension parts that can be damaged by an accumulation of soil specific to the region.
Magna International has created a technology advisory council to help the Canadian auto parts manufacturer identify additional business opportunities.