The move could involve executives who were hired or rose to prominence under former CEO Alan Mulally, the Journal said, citing people familiar with the matter. Executive chairman Bill Ford and the board of directors were taking an influential role in the discussions, the paper continued.
Last week, sources told CNBC that the automaker was planning to cut 10 percent of its jobs around the world in a bid to increase profits and lift the stock, which is hovering near a five-year low.
Ford’s share price has dropped nearly 40 percent since CEO Mark Fields took the job in 2014, the Journal noted.
Read more in the Wall Street Journal’s report.