Ford Stock Drop: Company Management Shakeups, Says They're Optimistic About Future

(CBS DETROIT) – Ford is facing a new crisis as its stock tumbles to the lowest point in a year, hitting 7.89 earlier Monday.

Automotive analysts say a recent management shuffle, including the ousting of Automotive President Joe Hinrichs and promotion of Jim Farley to COO, will help buy them some time.

Ford's spokesperson says while the company doesn't comment on stock price "we're optimistic. We're focused, and nobody's got higher expectations for ford than we do."

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