Fields out Hackett in

We woke up to some surprising news this morning: Ford has booted Mark Fields. Although this isn’t official from Ford yet. Fields has always been a car guy; been with Ford for almost 30 years. You could see that a lot of the Ford news over the past year was likely due to him (Focus RS, new GT, etc.).

It is interesting to note near the end of that article:

Executive back-biting and corporate intrigue, enduring staples of an Old Ford that Bill Ford once likened to czarist Russia, re-emerged as the gulf between expectations and financial results widened. Speculation of who might be in, or out, generally failed to capture the sweeping changes Ford’s directors were determined to take from a position of relative strength, not the weakness of 2006.

And, amid expectations that the automaker is on track to book some $9 billion in profits this year, Ford announced plans to offer 1,400 buyouts to salaried employees in North America and Asia — euphemistically described in a company statement as “people efficiencies” — even as it confirmed retention bonuses for four executives.

Wow, didn’t realize it got that bad. That would explain the lack of “show” from Ford these past few years as we’ve only got announcements and nothing to show for them (Ranger and Bronco coming back, new 300 mile EV by 2020..all announcements without anything to show for them not even a hacked up rendering to show what they could look like).

Even more telling is who they put in charge: A relative outsider who was briefly in charge of autonomous cars. Clearly where the board thinks the future (and, more likely, now!) is headed.

A big news day for Ford, time will tell if its the right move. Will things move faster now? Perhaps he’ll try to pull ahead some of the electrified vehicles? (Maybe they’ll have that 300 mile SUV done by the time my lease is up?? One can only hope.)

 

 

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Fields out Hackett in