Mark Fields has found a new home.
Last May, the former CEO of Ford Motor Co. was forced out of the company after its stock lost substantial value and was surpassed by competitors.
Fields will now become a senior adviser on manufacturing innovation and technology on the industrials team at TPG Capital, a private equity giant. According to a report in The Wall Street Journal, TPG is looking for ways to harness market-disrupting developments with e-commerce, outsourcing and big data, while expanding its supply chain-related investments.
In a news release, Fields said that his experience will help him find ways to capitalize on emerging technologies.
“Having spent my career in an industry that was, and continues to be, on the leading edge of technology and disruption, I look forward to working with TPG to find new opportunities to create change and innovate throughout the industrial sector," Fields said.
In August, TPG announced that it is buying Transplace, a company that provides transportation management systems and logistics technology, in a $1 billion deal.
Fields will start his new position on Nov. 1.