Jim Hackett Net Worth, Early Life, and Career Information

 

Jim Hackett is an American Businessman, who is known as the former president as well as chief executive officer of Ford Motor Company. Jim Hackett’s net worth is approximately $15.1 million per February 2017. His income is from his salary as the CEO as well as he has 33,000 units of NOV stock.

Previously, he worked at a furniture company, Steelcase in various positions. Along with his business success, it is reasonable if his net worth is quite high also.

 

Early Life

James Patrick Hackett, better known by his nickname Jim, was born on April 22, 1955. When he was young, his family moves to some places.

They are to Ohio via County Carlow and County Galway, a town in Ireland. After graduating from high school, he decided to continue his study at the University of Michigan.

Despite attending classes, he was also very active in campus activities including being the center of the football team.

In 1977, Hackett graduated from the college with a bachelor’s degree in general studies. He married Katheryn ‘Kathy’ Hackett and had 2 sons. The couple currently resides in the area of Grand Rapids, Michigan.

 

Career Information

Although he is more popular as the president of Ford Motor Company, Jim Hackett has worked in some other companies before that.

He started his career with sales and management positions in Procter & Gamble, a company in Detroit Michigan from 1977 to 1981.

After resigning, he joined a furniture company, Steelcase in Grand Rapids in 1981. He held various positions starting from sales and marketing to the company’s CEO.

He became the CEO of the company in 1994 when he was 39 years old. It makes them the youngest CEO of the company so far. He worked in Steelcase for around 30 years and 20 years of it was spent to be the CEO before retiring in 2014.

Despite his success in leading the company, he made some controversies also. One of them is when Steelcase eliminates almost 12,000 employees for purposes to restructure and downsize the company.

Even before retiring as the CEO of Steelcase, Hackett joined the Ford Motor Company. He became one of the members of the board of directors.

He was responsible for the company’s formation including the program of self-driving feature development. For that, he managed to cooperate with technology companies including Alphabet Inc. and Uber.

Hackett replached Mark Fields in the position of the President and CEO of Ford Motor Company while still being a member of the board of directors. In addition, he is also a member of the executive committee of the board of directors for the National Center for Arts and Technology.

He is still active in the University of Michigan as a member of the board of advisors of programs like the Gerald R. Ford School Public Policy and the Life Science Institute.

It was announced in 2020 that his position in Ford Motor Company would be replaced by Jim Farley following his retirement.

Conclusion

Jim Hackett is a good example of a person with an excellent career. He made many contributions to companies he joined and he is rich for his hardworking and brilliant ideas to his companies’ developments.