Ford Motor Co. is reportedly firing CEO Mark Fields

Ford will fire CEO Mark Fields and replace him with self-driving car chief Jim Hackett, according to the New York Times. The news comes amid turmoil in the company, including a steep 25 percent drop in car sales so far this year and layoffs of 1,400 salaried employees and possibly many more to come. The announcement is expected sometime later today. It's not just the drop in sales, market share, earnings and the stock price (down 40 percent since Fields took the reins) that has Ford investors alarmed. The company is also lagging behind rivals in the pace of tech development areas now considered crucial for automakers.