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This morning, Ford announced that current CEO Mark Fields will be stepping down as CEO. Taking his place is Jim Hackett, former CEO of Steelcase (an office furniture manufacturer) and chairman of Ford's self-driving unit. “Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford. His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years," said Bill Ford in a statement. The news was first broke by Forbes last night and later corroborated by the New York Times last night. According to unnamed sources, Ford's Executive Chairman Bill Ford and the board of directors lost confidence in Fields' ability to lead the company as he was unable to rally employees around a common theme or make fast decisions. His predecessor, Alan Mullaly was very good at those things. “Without Alan, it’s back to the inmates running the asylum,” a source told Forbes. Not helping matters is Ford's stock price dropping 40 percent during Fields' three-year tenure. The New York Times reports that the decision to remove Fields as CEO took place on Friday with The Detroit News reporting that Bill Ford delivering the news to Fields after a board meeting. “We need to re-energize our business and sharpen our execution. The good news is we have the financial resources and the talent to get it done. But what we needed is a transformative leader who has done it before. And who not only has the vision, but also knows how to get the organization to move toward that vision," Ford said in an interview with The Detroit News. “Jim has done this before. And he’s done it at an industrial company. And he’s done it at a company where he redefined it from what it was to what it could become. Jim will bring speed of decision-making. The world in which we are operating in today is very different from even three years ago.” Hackett was the CEO of Steelcase for over 20 years. He joined Ford's board of directors in 2013 and became the chairman of its Smart Mobility division in 2016. Hackett also worked as the interim athletic director of the University of Michigan from 2014-2016. “I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders. I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period,” said Hackett in a statement. Ford has also announced other management changes, Jim Farley, currently executive vice president and president, Ford of Europe, Middle East and Africa since January 2015 will become Ford's executive vice president and president, Global Markets. Joe Hinrichs, Ford's executive vice president and president for the Americas will move up to executive vice president and president, Global Operations. Marcy Klevorn, Ford's CTO will become executive vice president and president, Mobility. Source: Forbes, New York Times, (2), The Detroit News Press Release is on Page 2 FORD APPOINTS JIM HACKETT AS CEO TO STRENGTHEN OPERATIONS, TRANSFORM FOR FUTURE; FARLEY, HINRICHS, KLEVORN TAKE ON NEW ROLES Jim Hackett named as Ford Motor Company president and CEO, succeeding Mark Fields, who is retiring. Hackett, who will report to Executive Chairman Bill Ford, is recognized as a transformational business leader Hackett led Steelcase Inc.’s turnaround to become the world’s No. 1 office furniture maker, served as interim Athletic Director at University of Michigan and has led Ford Smart Mobility LLC since March 2016. He served on Ford’s board from 2013 to 2016 Hackett, together with Bill Ford, will focus on three priorities: Sharpening operational execution, modernizing Ford’s present business and transforming the company to meet tomorrow’s challenges Ford also named leaders to three new roles under Hackett. Jim Farley is appointed executive vice president and president, Global Markets, Joe Hinrichs is appointed executive vice president and president, Global Operations, and Marcy Klevorn is appointed executive vice president and president, Mobility Mark Truby is appointed vice president, Communications, and elected a company officer. He succeeds Ray Day, who plans to retire from the company next year and will provide consulting services until then Paul Ballew is appointed vice president and Chief Data and Analytics Officer DEARBORN, May 22, 2017 – Ford Motor Company today named Jim Hackett as its new president and CEO and announced key global leadership changes designed to further strengthen its core automotive business and accelerate a strategic shift to capitalize on emerging opportunities. Hackett, 62, has a long track record of innovation and business success as CEO of Steelcase, Interim Athletic Director at the University of Michigan and executive chairman of Ford Smart Mobility LLC since March 2016. Reporting to Executive Chairman Bill Ford, Hackett will lead Ford’s worldwide operations and 202,000 employees globally. He succeeds Mark Fields, 56, who has elected to retire from Ford after a successful 28-year career with the company. “We’re moving from a position of strength to transform Ford for the future,” Bill Ford said. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto industry and the broader mobility space. He’s a true visionary who brings a unique, human-centered leadership approach to our culture, products and services that will unlock the potential of our people and our business.” Added Hackett: “I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders. I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period.” Hackett, together with Bill Ford, will focus on three priorities: Sharpening operational execution across the global business to further enhance quality, go-to-market strategy; product launch, while decisively addressing underperforming parts of the business Modernizing Ford’s business, using new tools and techniques to unleash innovation, speed decision making and improve efficiency. This includes increasingly leveraging big data, artificial intelligence, advanced robotics, 3D printing and more Transforming the company to meet future challenges, ensuring the company has the right culture, talent, strategic processes and nimbleness to succeed as society’s needs and consumer behavior change over time Bill Ford and Ford’s Board of Directors thanked Fields for his significant contributions to the company. “Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford," Bill Ford said. “His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years." Also today, Ford announced a new structure for its operations and named three new leaders reporting to Hackett: Jim Farley, 54, is appointed executive vice president and president, Global Markets. In this role, Farley will oversee Ford’s business units, The Americas; Europe, Middle East & Africa and Asia Pacific. In addition, Farley will oversee Lincoln Motor Company and global Marketing Sales & Service. Farley has served as executive vice president and president, Ford of Europe, Middle East and Africa since January 2015. Farley will also oversee the strategy and business model development for electrified vehicles and autonomous vehicles. Joe Hinrichs, 50, is appointed executive vice president and president, Global Operations. In this role, Hinrichs will oversee Ford’s global Product Development; Manufacturing and Labor Affairs; Quality; Purchasing; and Sustainability, Environmental and Safety Engineering; Hinrichs has been serving as Ford executive vice president and president, The Americas, since December 2012. Marcy Klevorn, 57, is appointed executive vice president and president, Mobility. In this role, Klevorn will oversee Ford Smart Mobility LLC, which was formed last year to accelerate the company’s plans to design, build, grow and invest in emerging mobility services, as well as Information Technology and Global Data, Insight and Analytics. Klevorn has served as group vice president, Information Technology and Chief Information Officer since January 2017. All three appointments are effective June 1. New leaders to succeed Hinrichs, Farley and Klevorn will be the subject of a future announcement. “We are fortunate to have three dynamic and talented leaders in Jim Farley, Joe Hinrichs and Marcy Klevorn taking on greater responsibility,” Bill Ford said. “Each has a track record of driving innovation, cost efficiency and delivering results around the world. They will work closely with Jim Hackett to lead Ford’s day-to-day operations, build our brand and capitalize on emerging opportunities.” In addition, Ford appointed Mark Truby, 47, vice president, Communications, effective immediately, reporting to Bill Ford. He was elected a company officer. Truby has previously led Ford’s Communications teams in Asia Pacific and Europe, Middle East & Africa. Truby succeeds Ray Day, who plans to retire from the company next year and will provide consulting services until then. Ford also elected Paul Ballew, 52, as Global Chief Data and Analytics Officer, reporting to Klevorn. Ballew has been leading Ford’s global data and analytics teams since December 2014, including development of new capabilities supporting connectivity and smart mobility. -
This morning, Ford announced that current CEO Mark Fields will be stepping down as CEO. Taking his place is Jim Hackett, former CEO of Steelcase (an office furniture manufacturer) and chairman of Ford's self-driving unit. “Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford. His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years," said Bill Ford in a statement. The news was first broke by Forbes last night and later corroborated by the New York Times last night. According to unnamed sources, Ford's Executive Chairman Bill Ford and the board of directors lost confidence in Fields' ability to lead the company as he was unable to rally employees around a common theme or make fast decisions. His predecessor, Alan Mullaly was very good at those things. “Without Alan, it’s back to the inmates running the asylum,” a source told Forbes. Not helping matters is Ford's stock price dropping 40 percent during Fields' three-year tenure. The New York Times reports that the decision to remove Fields as CEO took place on Friday with The Detroit News reporting that Bill Ford delivering the news to Fields after a board meeting. “We need to re-energize our business and sharpen our execution. The good news is we have the financial resources and the talent to get it done. But what we needed is a transformative leader who has done it before. And who not only has the vision, but also knows how to get the organization to move toward that vision," Ford said in an interview with The Detroit News. “Jim has done this before. And he’s done it at an industrial company. And he’s done it at a company where he redefined it from what it was to what it could become. Jim will bring speed of decision-making. The world in which we are operating in today is very different from even three years ago.” Hackett was the CEO of Steelcase for over 20 years. He joined Ford's board of directors in 2013 and became the chairman of its Smart Mobility division in 2016. Hackett also worked as the interim athletic director of the University of Michigan from 2014-2016. “I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders. I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period,” said Hackett in a statement. Ford has also announced other management changes, Jim Farley, currently executive vice president and president, Ford of Europe, Middle East and Africa since January 2015 will become Ford's executive vice president and president, Global Markets. Joe Hinrichs, Ford's executive vice president and president for the Americas will move up to executive vice president and president, Global Operations. Marcy Klevorn, Ford's CTO will become executive vice president and president, Mobility. Source: Forbes, New York Times, (2), The Detroit News Press Release is on Page 2 FORD APPOINTS JIM HACKETT AS CEO TO STRENGTHEN OPERATIONS, TRANSFORM FOR FUTURE; FARLEY, HINRICHS, KLEVORN TAKE ON NEW ROLES Jim Hackett named as Ford Motor Company president and CEO, succeeding Mark Fields, who is retiring. Hackett, who will report to Executive Chairman Bill Ford, is recognized as a transformational business leader Hackett led Steelcase Inc.’s turnaround to become the world’s No. 1 office furniture maker, served as interim Athletic Director at University of Michigan and has led Ford Smart Mobility LLC since March 2016. He served on Ford’s board from 2013 to 2016 Hackett, together with Bill Ford, will focus on three priorities: Sharpening operational execution, modernizing Ford’s present business and transforming the company to meet tomorrow’s challenges Ford also named leaders to three new roles under Hackett. Jim Farley is appointed executive vice president and president, Global Markets, Joe Hinrichs is appointed executive vice president and president, Global Operations, and Marcy Klevorn is appointed executive vice president and president, Mobility Mark Truby is appointed vice president, Communications, and elected a company officer. He succeeds Ray Day, who plans to retire from the company next year and will provide consulting services until then Paul Ballew is appointed vice president and Chief Data and Analytics Officer DEARBORN, May 22, 2017 – Ford Motor Company today named Jim Hackett as its new president and CEO and announced key global leadership changes designed to further strengthen its core automotive business and accelerate a strategic shift to capitalize on emerging opportunities. Hackett, 62, has a long track record of innovation and business success as CEO of Steelcase, Interim Athletic Director at the University of Michigan and executive chairman of Ford Smart Mobility LLC since March 2016. Reporting to Executive Chairman Bill Ford, Hackett will lead Ford’s worldwide operations and 202,000 employees globally. He succeeds Mark Fields, 56, who has elected to retire from Ford after a successful 28-year career with the company. “We’re moving from a position of strength to transform Ford for the future,” Bill Ford said. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto industry and the broader mobility space. He’s a true visionary who brings a unique, human-centered leadership approach to our culture, products and services that will unlock the potential of our people and our business.” Added Hackett: “I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders. I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period.” Hackett, together with Bill Ford, will focus on three priorities: Sharpening operational execution across the global business to further enhance quality, go-to-market strategy; product launch, while decisively addressing underperforming parts of the business Modernizing Ford’s business, using new tools and techniques to unleash innovation, speed decision making and improve efficiency. This includes increasingly leveraging big data, artificial intelligence, advanced robotics, 3D printing and more Transforming the company to meet future challenges, ensuring the company has the right culture, talent, strategic processes and nimbleness to succeed as society’s needs and consumer behavior change over time Bill Ford and Ford’s Board of Directors thanked Fields for his significant contributions to the company. “Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford," Bill Ford said. “His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years." Also today, Ford announced a new structure for its operations and named three new leaders reporting to Hackett: Jim Farley, 54, is appointed executive vice president and president, Global Markets. In this role, Farley will oversee Ford’s business units, The Americas; Europe, Middle East & Africa and Asia Pacific. In addition, Farley will oversee Lincoln Motor Company and global Marketing Sales & Service. Farley has served as executive vice president and president, Ford of Europe, Middle East and Africa since January 2015. Farley will also oversee the strategy and business model development for electrified vehicles and autonomous vehicles. Joe Hinrichs, 50, is appointed executive vice president and president, Global Operations. In this role, Hinrichs will oversee Ford’s global Product Development; Manufacturing and Labor Affairs; Quality; Purchasing; and Sustainability, Environmental and Safety Engineering; Hinrichs has been serving as Ford executive vice president and president, The Americas, since December 2012. Marcy Klevorn, 57, is appointed executive vice president and president, Mobility. In this role, Klevorn will oversee Ford Smart Mobility LLC, which was formed last year to accelerate the company’s plans to design, build, grow and invest in emerging mobility services, as well as Information Technology and Global Data, Insight and Analytics. Klevorn has served as group vice president, Information Technology and Chief Information Officer since January 2017. All three appointments are effective June 1. New leaders to succeed Hinrichs, Farley and Klevorn will be the subject of a future announcement. “We are fortunate to have three dynamic and talented leaders in Jim Farley, Joe Hinrichs and Marcy Klevorn taking on greater responsibility,” Bill Ford said. “Each has a track record of driving innovation, cost efficiency and delivering results around the world. They will work closely with Jim Hackett to lead Ford’s day-to-day operations, build our brand and capitalize on emerging opportunities.” In addition, Ford appointed Mark Truby, 47, vice president, Communications, effective immediately, reporting to Bill Ford. He was elected a company officer. Truby has previously led Ford’s Communications teams in Asia Pacific and Europe, Middle East & Africa. Truby succeeds Ray Day, who plans to retire from the company next year and will provide consulting services until then. Ford also elected Paul Ballew, 52, as Global Chief Data and Analytics Officer, reporting to Klevorn. Ballew has been leading Ford’s global data and analytics teams since December 2014, including development of new capabilities supporting connectivity and smart mobility. View full article
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CES 2015: Ford CEO Predicts Driverless Cars On the Road In Five Years
William Maley posted an article in C.E.S.
The dream of the autonomous car on public roads could be closer than many of us think. Ford's CEO Mark Fields told analysts and reporters on the eve of the Consumer Electronics Show that he could see an automaker release a self-driving vehicle to the public within five years. “Fully autonomous vehicles are a real possibility,” said Fields. “Probably, in the next five years, you’ll see somebody introduce autonomous vehicles.” Audi demonstrated how far we have come in self-driving tech by having an Audi A7 equipped with the latest tech to drive from Los Angeles to Las Vegas on its own. The vehicle was able to do 560 mile trip with no problem. But while technology is here, there are still a number of obstacles that automakers have to overcome with self-driving cars, such as laws and insurance details. Source: Bloomberg -
The dream of the autonomous car on public roads could be closer than many of us think. Ford's CEO Mark Fields told analysts and reporters on the eve of the Consumer Electronics Show that he could see an automaker release a self-driving vehicle to the public within five years. “Fully autonomous vehicles are a real possibility,” said Fields. “Probably, in the next five years, you’ll see somebody introduce autonomous vehicles.” Audi demonstrated how far we have come in self-driving tech by having an Audi A7 equipped with the latest tech to drive from Los Angeles to Las Vegas on its own. The vehicle was able to do 560 mile trip with no problem. But while technology is here, there are still a number of obstacles that automakers have to overcome with self-driving cars, such as laws and insurance details. Source: Bloomberg View full article
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Its now official. This morning, Ford announced that current CEO Alan Mulally will step down on July 1st and that Mark Fields, Ford's Chief Operating Officer will take his place. Originally Mulally planned to stay as CEO through the end of 2014, but changed his mind after he decided the new leadership team would be ready for the challenge. “From the first day we discussed Ford’s transformation eight years ago, Alan and I agreed that developing the next generation of leaders and ensuring an orderly CEO succession were among our highest priorities. Mark has transformed several of our operations around the world into much stronger businesses during his 25 years at Ford. Now, Mark is ready to lead our company into the future as CEO,” said Ford Executive Chairman Bill Ford. Mulally leaves quite the legacy at Ford. During his eight year tenure as CEO, Mulally changed the corporate culture from one that was very divisive to one that focused on teamwork, instituted the One Ford plan, and took a big gamble by mortgaging everything at the company to perform a huge transformation of the company. Moves like these helped the company develop one of their strongest lineups to date and reporting reported 19 consecutive quarters of profitability. “It has been an honor to serve and contribute to creating a viable, profitably growing company for the good of everyone associated with the Ford Motor Company. By working together with all of our stakeholders around the world, we now are accelerating Henry Ford’s original vision to open the highways to all mankind" said Mulally. "Ford’s future is so bright, and Mark – supported by an experienced and dedicated senior leadership team – is absolutely the right leader to continue to deliver on our compelling vision." “It is a true honor to lead this great company and this talented team into the future. Under Alan’s leadership, we have seen the power of One Ford and what a culture of positive leadership and working together can accomplish. My commitment is to build on that success by accelerating our pace of progress. All of us at Ford are committed to delivering even more of the great products and innovations that will deliver growth and define our company going forward,” said Fields. Source: Ford William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 MAY 1, 2014 | DEARBORN FORD ANNOUNCES ALAN MULALLY RETIRING ON JULY 1; MARK FIELDS NAMED COMPANY PRESIDENT AND CEO Alan Mulally to retire from Ford on July 1, after serving as president and CEO and leading the company’s One Ford global transformation since September 2006 Mark Fields named Ford president and CEO, effective July 1; Fields served as COO since December 2012 and led Ford’s transformation in North America since 2005 Long-planned, seamless CEO transition underscores strength of Ford’s leadership team and succession planning process, Executive Chairman Bill Ford says Ford Motor Company [NYSE: F] announced today that Alan Mulally has decided to retire from the company July 1 and Mark Fields will be named Ford president and chief executive officer and elected as a member of the company’s board of directors. “From the first day we discussed Ford’s transformation eight years ago, Alan and I agreed that developing the next generation of leaders and ensuring an orderly CEO succession were among our highest priorities,” Executive Chairman Bill Ford said. “Mark has transformed several of our operations around the world into much stronger businesses during his 25 years at Ford. Now, Mark is ready to lead our company into the future as CEO.” Mulally, 68, is retiring after nearly eight years leading Ford and capping a remarkable 45-year career. Mulally has led Ford’s transformation and strengthened its position as one of the world’s leading global automakers. Under Mulally and the company’s One Ford plan for profitable growth, Ford has achieved 19 consecutive quarters of profitability, developed the strongest product lineup in Ford’s history and embarked upon the company’s most ambitious global expansion in the past half century. “Alan deservedly will be long remembered for engineering one of the most successful business turnarounds in history,” Bill Ford said. “Under Alan’s leadership, Ford not only survived the global economic crisis, it emerged as one of the world’s strongest auto companies. We always will be grateful to Alan for his leadership, compelling vision and for fostering a culture of working together that will serve our company for decades to come.” The transition in July is approximately six months earlier than previously anticipated, following Mulally’s recommendation to accelerate the timetable based on the readiness of Ford’s leadership team. “Alan and I feel strongly that Mark and the entire leadership team are absolutely ready to lead Ford forward, and now is the time to begin the transition,” said Bill Ford, who recruited Mulally from Boeing in 2006. Fields, 53, was named Ford’s chief operating officer in December 2012. He has been leading all of Ford’s global business operations and most skill teams, including product development, manufacturing, purchasing, and marketing, sales and service. Fields’ role as COO has included leading the company’s weekly Business Plan Review meeting, which Mulally established to track the progress of the One Ford plan and to monitor the global business and competitive environment. The Thursday meetings are credited with driving a reliable and transparent process for running Ford’s global operations and enabling Ford’s senior leadership to work closely together and act decisively on its plan. Before serving as COO, Fields served as executive vice president and president – The Americas since October 2005. There, he led the transformation of Ford’s North American business – turning it from record losses several years ago to record profits in each of the last four years. Earlier, Fields guided the product-led transformation of Ford’s European operations and formerly held European luxury brands, as well as the relaunch of Ford’s independent operations in Argentina and a major restructuring and product renaissance at Mazda. Mulally thanked the Ford team for their many contributions and accomplishments. “It has been an honor to serve and contribute to creating a viable, profitably growing company for the good of everyone associated with the Ford Motor Company,” Mulally said. “By working together with all of our stakeholders around the world, we now are accelerating Henry Ford’s original vision to open the highways to all mankind. “Ford’s future is so bright, and Mark – supported by an experienced and dedicated senior leadership team – is absolutely the right leader to continue to deliver on our compelling vision,” Mulally added. Fields underscored his commitment to the One Ford plan, including building on the company’s unprecedented global introduction of new products, innovations and excellence. “It is a true honor to lead this great company and this talented team into the future,” Fields said. “Under Alan’s leadership, we have seen the power of One Ford and what a culture of positive leadership and working together can accomplish. My commitment is to build on that success by accelerating our pace of progress. All of us at Ford are committed to delivering even more of the great products and innovations that will deliver growth and define our company going forward.” -
Its now official. This morning, Ford announced that current CEO Alan Mulally will step down on July 1st and that Mark Fields, Ford's Chief Operating Officer will take his place. Originally Mulally planned to stay as CEO through the end of 2014, but changed his mind after he decided the new leadership team would be ready for the challenge. “From the first day we discussed Ford’s transformation eight years ago, Alan and I agreed that developing the next generation of leaders and ensuring an orderly CEO succession were among our highest priorities. Mark has transformed several of our operations around the world into much stronger businesses during his 25 years at Ford. Now, Mark is ready to lead our company into the future as CEO,” said Ford Executive Chairman Bill Ford. Mulally leaves quite the legacy at Ford. During his eight year tenure as CEO, Mulally changed the corporate culture from one that was very divisive to one that focused on teamwork, instituted the One Ford plan, and took a big gamble by mortgaging everything at the company to perform a huge transformation of the company. Moves like these helped the company develop one of their strongest lineups to date and reporting reported 19 consecutive quarters of profitability. “It has been an honor to serve and contribute to creating a viable, profitably growing company for the good of everyone associated with the Ford Motor Company. By working together with all of our stakeholders around the world, we now are accelerating Henry Ford’s original vision to open the highways to all mankind" said Mulally. "Ford’s future is so bright, and Mark – supported by an experienced and dedicated senior leadership team – is absolutely the right leader to continue to deliver on our compelling vision." “It is a true honor to lead this great company and this talented team into the future. Under Alan’s leadership, we have seen the power of One Ford and what a culture of positive leadership and working together can accomplish. My commitment is to build on that success by accelerating our pace of progress. All of us at Ford are committed to delivering even more of the great products and innovations that will deliver growth and define our company going forward,” said Fields. Source: Ford William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 MAY 1, 2014 | DEARBORN FORD ANNOUNCES ALAN MULALLY RETIRING ON JULY 1; MARK FIELDS NAMED COMPANY PRESIDENT AND CEO Alan Mulally to retire from Ford on July 1, after serving as president and CEO and leading the company’s One Ford global transformation since September 2006 Mark Fields named Ford president and CEO, effective July 1; Fields served as COO since December 2012 and led Ford’s transformation in North America since 2005 Long-planned, seamless CEO transition underscores strength of Ford’s leadership team and succession planning process, Executive Chairman Bill Ford says Ford Motor Company [NYSE: F] announced today that Alan Mulally has decided to retire from the company July 1 and Mark Fields will be named Ford president and chief executive officer and elected as a member of the company’s board of directors. “From the first day we discussed Ford’s transformation eight years ago, Alan and I agreed that developing the next generation of leaders and ensuring an orderly CEO succession were among our highest priorities,” Executive Chairman Bill Ford said. “Mark has transformed several of our operations around the world into much stronger businesses during his 25 years at Ford. Now, Mark is ready to lead our company into the future as CEO.” Mulally, 68, is retiring after nearly eight years leading Ford and capping a remarkable 45-year career. Mulally has led Ford’s transformation and strengthened its position as one of the world’s leading global automakers. Under Mulally and the company’s One Ford plan for profitable growth, Ford has achieved 19 consecutive quarters of profitability, developed the strongest product lineup in Ford’s history and embarked upon the company’s most ambitious global expansion in the past half century. “Alan deservedly will be long remembered for engineering one of the most successful business turnarounds in history,” Bill Ford said. “Under Alan’s leadership, Ford not only survived the global economic crisis, it emerged as one of the world’s strongest auto companies. We always will be grateful to Alan for his leadership, compelling vision and for fostering a culture of working together that will serve our company for decades to come.” The transition in July is approximately six months earlier than previously anticipated, following Mulally’s recommendation to accelerate the timetable based on the readiness of Ford’s leadership team. “Alan and I feel strongly that Mark and the entire leadership team are absolutely ready to lead Ford forward, and now is the time to begin the transition,” said Bill Ford, who recruited Mulally from Boeing in 2006. Fields, 53, was named Ford’s chief operating officer in December 2012. He has been leading all of Ford’s global business operations and most skill teams, including product development, manufacturing, purchasing, and marketing, sales and service. Fields’ role as COO has included leading the company’s weekly Business Plan Review meeting, which Mulally established to track the progress of the One Ford plan and to monitor the global business and competitive environment. The Thursday meetings are credited with driving a reliable and transparent process for running Ford’s global operations and enabling Ford’s senior leadership to work closely together and act decisively on its plan. Before serving as COO, Fields served as executive vice president and president – The Americas since October 2005. There, he led the transformation of Ford’s North American business – turning it from record losses several years ago to record profits in each of the last four years. Earlier, Fields guided the product-led transformation of Ford’s European operations and formerly held European luxury brands, as well as the relaunch of Ford’s independent operations in Argentina and a major restructuring and product renaissance at Mazda. Mulally thanked the Ford team for their many contributions and accomplishments. “It has been an honor to serve and contribute to creating a viable, profitably growing company for the good of everyone associated with the Ford Motor Company,” Mulally said. “By working together with all of our stakeholders around the world, we now are accelerating Henry Ford’s original vision to open the highways to all mankind. “Ford’s future is so bright, and Mark – supported by an experienced and dedicated senior leadership team – is absolutely the right leader to continue to deliver on our compelling vision,” Mulally added. Fields underscored his commitment to the One Ford plan, including building on the company’s unprecedented global introduction of new products, innovations and excellence. “It is a true honor to lead this great company and this talented team into the future,” Fields said. “Under Alan’s leadership, we have seen the power of One Ford and what a culture of positive leadership and working together can accomplish. My commitment is to build on that success by accelerating our pace of progress. All of us at Ford are committed to delivering even more of the great products and innovations that will deliver growth and define our company going forward.” View full article
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The end of an era appears to be coming very soon. A new report from Bloomberg says Ford CEO Alan Mulally will step down and that Mark Fields, the current Chief Operating Officer will take his place sometime this year. Two sources tell Bloomberg that the move could be announced as early as May 1st. The departure of Mulally closes a chapter in Ford's history where he helped bring the company back from the brink of death and made the company very profitable. At the end of 2013, Ford reported a pretax earnings in North America to a record $8.78 billion. The departure also brings some much needed clarity to Ford's leadership structure. “We take succession planning very seriously and we have succession plans in place for each of our key leadership positions. For competitive reasons, we don’t discuss our succession plans externally,” said Susan Krusel, a Ford spokeswoman. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
The end of an era appears to be coming very soon. A new report from Bloomberg says Ford CEO Alan Mulally will step down and that Mark Fields, the current Chief Operating Officer will take his place sometime this year. Two sources tell Bloomberg that the move could be announced as early as May 1st. The departure of Mulally closes a chapter in Ford's history where he helped bring the company back from the brink of death and made the company very profitable. At the end of 2013, Ford reported a pretax earnings in North America to a record $8.78 billion. The departure also brings some much needed clarity to Ford's leadership structure. “We take succession planning very seriously and we have succession plans in place for each of our key leadership positions. For competitive reasons, we don’t discuss our succession plans externally,” said Susan Krusel, a Ford spokeswoman. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
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William Maley Staff Writer - CheersandGears.com September 11, 2012 Bloomberg is reporting that Ford will announce Mark Fields as its new Chief Operating Officer, putting him right behind CEO Alan Mulally in the chain of command. Until now, Ford has not had a COO under Mulally. This has led many to speculate that this promotion will clearly put Fields in line to be the successor for CEO. Rumors of someone replacing Mulally as CEO have been swirling for months. Although Mulally, 67, says he has no plans to step down anytime soon, it's widely believed that Ford is preparing for new leadership behind the scenes. “We do not comment on speculation about personnel actions. Regarding succession, Ford Motor Co. takes succession planning very seriously, and we have succession plans in place for each of our key leadership positions,” said Ray Day, a Ford spokesman in an e-mail. Fields isn't the only one being considered for the CEO position. Joe Hinrichs, head of Ford's Asia operations, and Jim Farley, Ford's sales and marketing head are also under consideration. The two are also being looked at for President of the Americas. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
William Maley Staff Writer - CheersandGears.com September 11, 2012 Bloomberg is reporting that Ford will announce Mark Fields as its new Chief Operating Officer, putting him right behind CEO Alan Mulally in the chain of command. Until now, Ford has not had a COO under Mulally. This has led many to speculate that this promotion will clearly put Fields in line to be the successor for CEO. Rumors of someone replacing Mulally as CEO have been swirling for months. Although Mulally, 67, says he has no plans to step down anytime soon, it's widely believed that Ford is preparing for new leadership behind the scenes. “We do not comment on speculation about personnel actions. Regarding succession, Ford Motor Co. takes succession planning very seriously, and we have succession plans in place for each of our key leadership positions,” said Ray Day, a Ford spokesman in an e-mail. Fields isn't the only one being considered for the CEO position. Joe Hinrichs, head of Ford's Asia operations, and Jim Farley, Ford's sales and marketing head are also under consideration. The two are also being looked at for President of the Americas. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
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