Jim Farley, Ford Motor Company Executive Vice President and President of Global Markets, reveals the 2020 Ford Mustang Shelby GT 500 at the 2019 North American International Auto Show during Media preview days on January 14, 2019 in Detroit, Michigan.

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Jim Farley, Ford Motor Company Executive Vice President and President of Global Markets, reveals the 2020 Ford Mustang Shelby GT 500 at the 2019 North American International Auto Show during Media preview days on January 14, 2019 in Detroit, Michigan.

Ford announced a big management shakeup Wednesday, shifting around a number of key executives to retool its business model toward the future car market, including moving its global markets head Jim Farley to oversee the company’s self-driving technology group.

“In the past two years, we have made tangible progress in improving the fitness of our business, overhauled our regional strategies, created a winning product portfolio, and are working to transform Ford to succeed in an era of profound change and disruption,” CEO Jim Hackett said. “With this strong foundation in place for our auto and mobility businesses, we can now accelerate our transformation.”

Ford shares rose slightly on Wednesday morning in premarket trading. The second-largest automaker’s stock has risen 20 percent since the beginning of the year.

This is a breaking news story. Please check back for updates.

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