A report from Bloomberg suggests that Ford Motor Company (NYSE:F) has decided to replace CEO Mark Fields with Jim Hackett.

Fields has been unable to impress the automaker’s board and investors with plans for reversing Ford’s fortunes. He has been betting on self-driving cars and ride-sharing business as the automaker’s traditional car business has struggled in a slowing U.S. market. The company’s stock has plummeted 40% since Fields became CEO in July 2014.

During the recent annual meeting, Ford Executive Chairman Bill Ford that he and the board are frustrated by the stock decline. “We’re frustrated, but our business is performing well. We’re making investments for both today and tomorrow, and I believe that’s the right thing to do,” he told investors.

Citing an unnamed person, Bloomberg reported that Ford will also replace Fields’s communications chief Ray Day with Mark Truby. Truby is a former newspaper reporter who led the automaker’s communications in Asia.

Ford Motor Company (NYSE:F) will make an official announcement regarding management changes early Monday, the person told the publication.

Fields joined Ford in 1989 and led sales and marketing activities of Mazda Motor Corporation, then owned by Ford. He promoted to the positions of president and CEO of Mazda Motor Corporation in 2000.

Fields was named the chief operating officer of the automaker in 2012. He become CEO of the U.S. No. 2 automaker in 2014, replacing Alan Mulally.

Hackett is currently working as head of Ford Smart Mobility unit. He joined the company’s board of directors in 2013 and was named the chairman of Ford Smart Mobility in March 2016.

As we reported earlier, Ford is considering to significant changes to its senior management team aimed a stock price decline. Shares of Ford Motor Company (NYSE:F) are down more than 10% so far this year. During the last three months, the stock has declined 14.34%.