Ford Motor Company

The carmaker justifies the decision to no longer manufacture cars in Brazil as part of the plan to focus on profitable products and obtain a corporate EBIT margin of 8% to generate "sustainable cash flow". These efforts have improved results over the past four quarters. Still, the continued unfavourable economic environment and the additional pressure caused by the pandemic have made it clear that much more is needed to create a sustainable and profitable future," said Lyle Watters, president of Ford South America.

Ford Motor Company announced its current CEO, Jim Hackett, will retire on October 1, ending a three-year run in which the automaker has tried to streamline its operations. Hackett will be succeeded by Jim Farley, currently COO of the company.

Ford’s executive chairman William Clay Ford Jr., said: "I am very grateful to Jim Hackett for all he has done to modernize Ford and prepare us to compete and win in the future,".

Ford, Adidas and Clorox have joined a growing list of companies pausing social media advertising to take action against hate speech. Ford will not advertise on either Facebook, Instagram, YouTube or Twitter in the U.S. for the next 30 days. Clorox is pausing advertising globally on all Facebook-owned platforms until the end of the year, Adidas through July.

For the third time, Ford will recall cars, SUVs and vans to fix a defect with their doors, that could open while the vehicle is moving. The recall will cover 2.1 million vehicles in the US and Canada.

The company said Wednesday the previous door latch recalls were done because of defective pawl spring tabs that could crack and fail in high temperatures. The previously recalled vehicles may not have had the latches replaced, or repairs may not have been done correctly, the company said in a statement.