But there were rumblings that Fields wasn't focused enough on Ford's core business. Popular products such as the Fusion sedan and Escape SUV grew dated. Ford lagged behind rivals in bringing long-range electric cars to the market. Ford couldn't pivot quickly. The stock price sagged, and electric car maker Tesla even passed Ford in market value earlier this year. Hackett was the CEO of Steelcase for 20 years. He is credited with transforming that company. Ford executive chairman Bill Ford called Hackett a "visionary" who knows how to remake a business. "These are really unparalleled times, and it really requires transformational leadership during these times," Ford said. Henry Ford and son Edsel Ford pose for a picture on April 8, 1947. Photo / AP Investors worried about Ford's sliding US market share and product decisions. US sales are plateauing after years of growth, and Ford has been losing share in that all-important market.