AP Source: Ford to announce management shakeup Friday

DETROIT (AP) — Ford is shaking up its management after a poor fourth-quarter financial performance and the botched launch of the Explorer SUV.

A person briefed on the matter says that automotive President Joe Hinrichs will retire from the company. Jim Farley, president of new business and strategy, will become chief operating officer. The person didn't want to be identified because the moves haven't been formally announced.

Ford has scheduled a conference call with reporters for later Friday morning.