Ford Shakes Up Leadership, Restructures After $1B Supply Chain Hit

Ford (F) announced Thursday that it's shuffling leadership positions and restructuring product development and supply chain units, days after disclosing $1 billion in unexpected supplier costs.

Ford Chief Financial Officer John Lawler will manage the supplier unit restructuring until a full-time chief supply chain officer is appointed. The supply chain problems caused Ford's stock to experience its biggest single day drop in 11 years.

Ford also expanded the role of electric vehicle head Doug Field, naming him chief advanced product development and technology officer. Field was hired a year ago to manage Ford's electric vehicle program, which he will continue to oversee along with software and digital systems development and advanced driver assistance. He will also manage design and vehicle hardware engineering.

Ford also named Lisa Drake as its vice president of EV industrialization, with responsibility for manufacturing engineering. Drake's appointment comes at a time when the company plans to ramp up electric vehicle capacity to 2 million units a year by the end of 2026.

Chuck Gray, who was previously vice president of EV technology was named a vice president, vehicle hardware engineering.

Both Drake and Gray will report to Field, along with Anthony Lo, who is the company's chief design officer.

Ford also restructured its global supply chain management for a more "efficient and reliable sourcing of components."

Hau Thai-Tang, chief industrial platform officer, will retire Oct. 1, after more than 34 years with Ford. Dave Filipe, vice president, vehicle hardware modules, will also retire on Dec. 1, after 30 years at the automaker.

As of Thursday at 1:01 p.m. ET, shares of Ford were trading at $12.98, down 7 cents, or 0.54%.