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Former Ford CEO Mark Fields rumored to be sent home with $57.5 million

You probably heard about Ford’s CEO Mark Fieldsdeparture from the company. Fields has spent almost three years with the company, and now, he is going to be replaced by Jim Hackett, chairman of Ford Smart Mobility.

If you didn’t know why he was ousted, the former CEO had a difficult situation to handle - that is “to develop an autonomous car, and to be a worldwide guy”. The company basically gave Fields an impossible task considering the timeframe he was given.

The company even criticized him earlier this month during the annual shareholder meeting regarding the Michigan-based company’s sluggish financial results. This issue began when the company’s market capitalization fell behind Tesla’s earlier this year. Some even say that this action by Ford was unfair for Fields, since it is very difficult to compete with Google’s autonomous car space, the Alphabet, and Elon Musk of Tesla.

Read the entire article Former Ford CEO Mark Fields rumored to be sent home with $57.5 million

Ford names Jim Hackett as its new CEO

Ford Motor Co. now has a new man on the top, and he goes by the name of Jim Hackett. Effective May 22, 2017, Hackett is named the new president and chief executive officer of Ford, replacing erstwhile top honcho Mark Fields. In his new role, Hackett is now reporting directly to Executive Chairman Bill Ford.

Along with Bill Ford, Hackett outlined three main objectives for the carmaker: to sharpen Ford’s operational execution; to modernize the company’s present business; and to transform the carmaker to meet future challenges.

Hackett was formerly vice chairman of office furniture giant Steelcase (2014 to 2015). Before that, he was the company’s CEO, until his retirement in February 2014. In total, Hackett spent around 30 years in Steelcase, and is widely credited in guiding the company to becoming a global leader in the office furniture industry. He was instrumental in transforming Steelcase from just a traditional manufacturer to an industry innovator positioned as the #1 in the world.

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Ford CEO Mark Fields believes self-driving car is possible in half a decade

Mark Fields, chief executive of Ford Motor Co., said it is possible that a carmaker would launch a self-driving vehicle within the next five years, although he discounted his company to have the honor as it is focusing on driver-assist technologies. A number of carmakers are working to develop self-driving cars, which should be an answer for a safer transportation.

Daimler AG CEO Dieter Zetsche unveiled at the International CES its own concept of an autonomous car -- the Mercedes-Benz F 015. The Mercedes concept car features four seats that can face each other, rather than the road.

The Mercedes-Benz F 015 is fitted with six screens to enable passengers to monitor information about the vehicle and the outside world through technology that responds to eye movements and gestures.

Read the entire article Ford CEO Mark Fields believes self-driving car is possible in half a decade

CEO Mark Fields says Ford dealers should be fully stocked with F-150s in Q2 of 2015

Ford Motor Co. has commenced building the aluminum-bodied 2015 F-150 pickup, vowing to fully stock its dealers with the vehicle in the second quarter of 2015, according to chief executive Mark Fields. Ford will start shipping the first stock F-150s to dealerships in next month and the retail orders in February.

The carmaker had to spend 10 weeks to install new equipment in its Dearborn truck plant in Michigan to prepare for the production of the new F-150, which requires different assembly techniques from its predecessor, including riveting, adhesive bonding and laser welds.

Once Ford’s Dearborn site reaches full production speed, Ford start revamping its Claycomo assembly plant in Missouri in January to enable it to build aluminum bodied F-150. The launch of F-150 production at the Dearborn site was presided by Fields and Ford Executive Chairman Bill Ford.

Read the entire article CEO Mark Fields says Ford dealers should be fully stocked with F-150s in Q2 of 2015

Ford’s new chief executive, Mark Fields, has started his first slew of major human resource changes at the carmaker. To start off, he named Kumar Galhotra, currently vice president of engineering, as president of the Lincoln brand, effective September 1, 2014. Galhotra will report directly to Fields. This marks the first time Lincoln has had its own president since 2007 when it was still part of the Lincoln-Mercury division.

In naming a new president for the brand, Fields said that “now is the right time for the next chapter in accelerating Lincoln as a world-class luxury brand.” He remarked that Gaholtra boasts of over 25 years of global product and business experience.

The move means that executive vice president of global sales Jim Farley will be relieved of his executive responsibility for Lincoln. Farley, however, will still be involved in Lincoln marketing. Farley is credited to pioneering a push for excellence in customer service.

Read the entire article Mark Fields names Kumar Galhotra as new president of Lincoln

Alan Mulally, outgoing chief executive of Ford Motor Co., plans to continue advising successor Mark Fields, while keeping in contact with the carmaker. Mulally is slated to step down from his post in July. “I’m going to stay close to Ford going forward,” he told Bloomberg Television in an interview.

Mulally was expected to step down by the end of 2014, but Ford said the CEO had decided to exit six months earlier than planned to make way for Fields. People with knowledge of Mulally’s plans told Automotive News that the CEO has been lining up a corporate post -- probably as a board director or chairman.

Mulally said the Bloomberg TV interview that he had fallen in love with Ford, adding that it is “a great company.” Mulally jumped from Boeing Co. to Ford in 2006, and became the mastermind of the carmaker’s turnaround from a near bankruptcy.

Read the entire article Alan Mulally to continue advising successor Mark Fields after stepping down in July