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The No.2 USA automaker will name Steven Armstrong as the new head of Europe, Middle East and Africa and Peter Fleet as the new head of Asia Pacific and China, according to three people familiar with the plans, FT said.

It comes as part of a management shake-up at the United States vehicle giant, after Jim Hackett was announced as Ford's new chief executive by chairman Bill Ford, earlier this week.

Fields, 56, tendered his resignation after the Ford's stock dropped 40 percent on his watch and the board lost confidence in his ability to manage the company through a rapidly changing industry on the decline.

Hackett's new annual base salary is roughly on par with what his predecessor Mark Fields received in 2016, though Hackett is getting $12,500 more.

An engineering star at Ford who took a short detour to launch Uber's self-driving program in Pittsburgh is back at Ford in a newly created position: vice president, autonomous vehicles and electrification. That's a promotion for the executive who will report to Hinrichs under global operations as executive vice president of product development and purchasing. But Thursday's executive moves indicate Hackett will rely mainly on Ford veterans to get the job done, instead of bringing in outside talent.

The pay package includes a $1.8 million base salary, more than double the $716,000 he was earning previously. Thai-Tang, 50, will have the task of simultaneously accelerating vehicle development and reining in costs as rival GM unleashes a volley of models aimed at the heart of Ford's product lineup.

Neil Schloss is appointed vice president and chief financial officer, Mobility, effective August 1. He could also receive a performance-based bonus of about $3.6 million if the company meets internal targets.

Jeff Lemmer is appointed vice president and chief operating officer, Information Technology, effective June 1.

Bradley Gayton named group vice president, chief administrative officer and general counsel.

Raj Nair, one of the leading figures behind the Ford GT project, has been promoted to a new senior position at Ford, as part of global staff shakeup announced by the American manufacturer on Thursday.

Chairman Bill Ford Jr., whose family effectively controls the U.S. No. 2 automaker, said on Monday he wanted Hackett to speed up decision-making and cut costs, but did not elaborate on how the new CEO should change operations.


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