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Company veterans promoted to set a course for the future of Ford

Ford on Wednesday named two company veterans to lead its auto and mobility businesses as the No. 2 U.S. automaker shifts its focus to autonomous vehicles and realigns its automobile portfolio. Joe Hinrichs was named president of Ford's automotive unit, and Jim Farley will be president, new businesses, technology and strategy, effective May 1. Both will report to Chief Executive Officer Jim Hackett. Hinrichs' goal will be a sustainable EBIT margin (earnings before interest and taxes) of at least 8 percent, Ford said. He'll have responsibility for all of Ford's global business units, and both the Ford and Lincoln brands. And he'll lead all of the automotive skills teams, from product development through customer experience. "Joe Hinrichs possesses the knowledge, experience and leadership to now take our Automotive business to world-class levels of product excellence, customer satisfaction, efficiency and financial performance," Hackett said. "As we enter a busy period for new product launches and further restructuring in underperforming markets, Joe's leadership in transforming businesses through focused execution will be key." Farley is charged with leading Ford's strategic transformation, in which it hopes to gain higher margins through smart/connected vehicles. He'll oversee corporate strategy, global data analytics, global partnerships, research and advanced engineering, including initiatives in smart mobility and autonomous vehicles. "Jim Farley's job is to drive us into the future, both strategically and operationally, from AVs to mobility experiences to leveraging AI and big data. Jim combines an innate feel for what customers want and need in vehicles and the ability to translate this into the vehicles and services of the future," Hackett said. Marcy Klevorn, president of Ford Mobility, plans to retire Oct. 1 after 36 years at Ford. Until then, she will report to Hackett in a strategic role. "I have asked Marcy to work with me and the senior team to accelerate our transformation," Hackett said. "Marcy's decades of experience working with many of the leading companies in the tech space as well as the work she has done with the transformation of Ford IT and the establishment of Ford Mobility gives her unique knowledge to drive these initiatives."

Matt Damon is Carroll Shelby, with Christian Bale in Ford vs. Ferrari film

Right after we reported that one of the Le Mans-winning Ford GT40s is coming up for auction, word got round that its story will now be turned into a Hollywood movie. There will be an as-yet-untitled major motion picture that tells the story of Ford battling Ferrari in the 1960s, culminating in the Ford GT40's dramatic 1-2-3 finish in the 1966 24 Hours of Le Mans. The movie has lined up an all-star cast, with "Batman" and "American Psycho" actor Christian Bale tapped to play key GT40 developer, test driver and racer Ken Miles, and "Punisher" actor Jon Bernthal as Lee Iacocca. The plum role of Carroll Shelby is going to Matt Damon, last seen driving across the Red Planet in "The Martian" or down a flight of stairs in the "Bourne" film series. The film's director will be James Mangold, known from directing last year's "Logan." View 37 Photos Autoweek reports that the original screenplay was based on A.J. Baime's book " Go Like Hell," but there will be a different screenplay written from scratch. Originally, "Go Like Hell" was to be a different project starring Tom Cruise and Brad Pitt. Meanwhile, the book will reportedly be turned into a TV series produced by Peter Dinklage of "Game of Thrones." And meanwhile some more, there are also competing Enzo Ferrari biopics in the works starring Robert De Niro and another starring Hugh Jackman that will also surely touch on the rivalry with Ford. While there's no guarantee yet that the GT40 biopic will match Steve McQueen's "Le Mans," we're got high hopes. It's a great story worthy of all the attention it's getting. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Celebrities Motorsports Rumormill TV/Movies Ferrari Ford Automotive History Racing Vehicles ford gt40

FCA to pay buyers $1,700 to swap out of scandal-mired VWs

FCA is trying to gain some sales from arch-rival VW in the competitive European market by offering potential buyers in Italy up to $1,700 to swap into an FCA group car. While the promotion isn't specifically targeted at TDI owners affected by the emissions scandal, it is clearly intended to turn dissatisfaction with VW's defeat device cheat into additional sales, Bloomberg reports. The 500-1,500 euro incentive (roughly $560-1,700, depending on vehicle) stacks on top of any other rebates or deals applicable, and applies if a buyer brings in any of Volkswagen Group's cars – including Audi, Skoda, and SEAT, among (many) others. As Bloomberg notes, it's normal for automakers to offer "conquest" deals – giving a buyer cash for trading in a competitor's vehicle. Those deals aren't usually limited to one company's products, however; FCA's program looks specifically to take advantage of VW's legal and public relations nightmare. FCA isn't the only automaker trying this trick in Italy. Automotive News Europe also reported that Ford is offering approximately $840 in incentives across its entire range to owners of VW vehicles seeking to trade in for a Ford. No word of yet as to whether these incentives will spread beyond Italy or to other automakers.Related Video: