Ford Motor Co.’s Chief Operating Officer Jim Farley will take over as chief executive, succeeding the retiring Jim Hackett, who is more than three years into a turnaround effort that has yet to lift profit or the auto maker’s depressed share price.

ALSO READ: Ford CEO Jim Hackett Resigns

The company said Tuesday that Mr. Farley, 58 years old, will succeed Mr. Hackett, 65, on Oct. 1. Mr. Hackett will remain in an advisory role through next spring, the company said.

Details later…..

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