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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ford Motor Company | NYSE:F | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.0697 | -0.56% | 12.4203 | 12.76 | 12.39 | 12.64 | 47,509,383 | 00:59:25 |
By Austen Hufford and John D. Stoll
A top Ford Motor Co. executive has been fired following misconduct allegations, the latest high-ranking leader to be shown the door amid broader scrutiny of workplace behavior in corporate America.
Raj Nair, a longtime Ford executive who most recently ran the auto company's profitable North American business, is leaving after an investigation found his behavior was inconsistent with the company's code of conduct. A spokesman said other executives aren't believed to be under similar suspicion.
While the auto industry hasn't played a central role in a recent wave of scandal that has engulfed a range of companies and high-profile personalities or executives, Ford has already had to confront sexual harassment claims on the factory floor. Its Chicago plant has been subject to claims brought by women saying they were harassed and bullied.
Ford Chief Executive Jim Hackett has condemned those behaviors in Chicago. On Wednesday, Mr. Hackett said in a statement that the company let Mr. Nair go "after a thorough review and careful consideration."
The specific nature of the allegations against Mr. Nair wasn't immediately clear.
Ford spokesman Mark Truby said Mr. Nair's departure stems back to an anonymous tip received in recent weeks, which the company's leadership team followed up on.
Mr. Nair is a car enthusiast and once headed Ford's product development arm. He said in a statement "I sincerely regret that there have been instances where I have not exhibited leadership behaviors consistent with the principles that the company and I have always espoused."
Mr. Nair is one of a handful of executives that Mr. Hackett picked to be part of a management shuffle when he became Ford's CEO nearly a year ago.
Mr. Nair received a retention bonus less than a year ago, which would have paid out about $5 million if he had stayed until the end of the decade. He was one of a number of senior leaders given special incentives shortly before Mr. Hackett's arrival.
His successor has yet to be announced.
Write to Austen Hufford at austen.hufford@wsj.com and John D. Stoll at john.stoll@wsj.com
(END) Dow Jones Newswires
February 21, 2018 17:30 ET (22:30 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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