Ford Executive Shakeup

[Thevanin]

https://jalopnik.com/fords-new-ceo-is-cleaning-house-1845238265

Looks like today is Farley's first day as CEO and he's moving around some executives, including chief financial officer, chief marketing officer, chief information officer, and vice president of manufacturing in Europe.




Ford's New CEO Is Cleaning House
https://jalopnik.com/author/erikshilling



Ford CEO Jim Farley, left, with Bill Ford.Photo: Getty Images (Getty Images)
Jim Farley’s first day as Ford’s new CEO is today. Related: There is also a big management shakeup.



The changes, according to Ford, will “drive growth, improve execution, speed transformation.” What this really means, as always with a management shakeup, is that Farley simply believes that other people would be better than the current people.
In total: Ford’s chief financial officer is out, its chief marketing officer is out, its chief information officer is out, and its vice president of manufacturing in Europe is out.

“During the past three years, under Jim Hackett’s leadership, we have made meaningful progress and opened the door to becoming a vibrant, profitably growing company,” Farley said. “Now it’s time to charge through that door.”

“During the past three years Jim Hackett has not turned Ford into a vibrant, profitably growing company” is what Farley meant. The casualties, from Ford’s press release:

John Lawler, 54, will become CFO today, overseeing the Finance and Ford Motor Credit organizations. Lawler will succeed Tim Stone, who has accepted a position as chief operating officer and chief financial officer at ASAPP Inc., a research-driven, artificial-intelligence software company. Stone will remain with Ford through Oct. 15 to ensure a smooth transition.
[...]
Jeff Lemmer, Ford’s chief information officer, will retire Jan. 1 after 33 years with the company. A successor for Lemmer as CIO, who will lead the Technology and Software platform, will be announced in the near future.
[...]
Joy Falotico, 53, who has been president of Lincoln and Ford’s chief marketing officer for nearly three years, will be dedicated solely to further growing Ford’s luxury brand once a new chief marketing officer is named shortly. She will report to Kumar Galhotra, president, The Americas and International Markets.
[...]
Separately, in Europe, Dale Wishnousky, 57, vice president, Manufacturing, Ford of Europe, will retire at the end of the year. His career with the company started in 1987 and spanned key manufacturing and service leadership roles in multiple countries. Kieran Cahill, 53, previously director, Manufacturing and Strategic Projects, Ford of Europe, succeeds Wishnousky, effective immediately.

Hackett’s big moves as CEO—his biggest being getting rid of the sedans—have been sort of interesting, but more interesting will be how Farley deals with electrification. I don’t think today’s management moves tell us much more than there’s a new sheriff in town, but, as always, the proof is in the pudding or whatever.

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[Mach Daddy]

I just read Ford is also ending the Shelby GT350 and 350R, so no more manual transmissions in the Mustang lineup.

 

[JamieGeek]

Farley has always been pretty "pro" on EV's and electrification (it was Mark Fields that was all gear head and no EV).

Farley has already stated that the electrification commitment Ford made will continue (Bill Ford is mr environmentalist so I'm sure he'll be pushing that way too).

 

[hybrid2bev]

Farley has always been pretty "pro" on EV's and electrification (it was Mark Fields that was all gear head and no EV).

Farley has already stated that the electrification commitment Ford made will continue (Bill Ford is mr environmentalist so I'm sure he'll be pushing that way too).

Yes, very pro-EV. See point #3 from Ford’s press release:

• Offering compelling, uniquely Ford fully electric vehicles at scale around the world, including Transit, F-Series, Mustang, SUVs and Lincoln

In our team meeting today both Jim and Hau Thai-Tang were both giving effusive praise towards the Mach-E and what a fundamentally better product it is compared to ICE vehicles. Jim even mentioned possible future range increases and 10 updates that will make the product better in year 1 after purchase.

 

[MerryBrown]

https://jalopnik.com/fords-new-ceo-is-cleaning-house-1845238265

Looks like today is Farley's first day as CEO and he's moving around some executives, including chief financial officer, chief marketing officer, chief information officer, and vice president of manufacturing in Europe.




Ford's New CEO Is Cleaning House
https://jalopnik.com/author/erikshilling



Ford CEO Jim Farley, left, with Bill Ford.Photo: Getty Images (Getty Images)
Jim Farley’s first day as Ford’s new CEO is today. Related: There is also a big management shakeup.



The changes, according to Ford, will “drive growth, improve execution, speed transformation.” What this really means, as always with a management shakeup, is that Farley simply believes that other people would be better than the current people.
In total: Ford’s chief financial officer is out, its chief marketing officer is out, its chief information officer is out, and its vice president of manufacturing in Europe is out.

“During the past three years Jim Hackett has not turned Ford into a vibrant, profitably growing company” is what Farley meant. The casualties, from Ford’s press release:


Hackett’s big moves as CEO—his biggest being getting rid of the sedans—have been sort of interesting, but more interesting will be how Farley deals with electrification. I don’t think today’s management moves tell us much more than there’s a new sheriff in town, but, as always, the proof is in the pudding or whatever.

Interesting stuff. I particularly find it interesting that they are basically just shuffling front offices except for Marketing. They don't have someone from inside to slot in a spot there. That gives me hope that they will pull someone in from outside the organization with a fresh perspective who understands the need for more communication with folks like us.

 

[Kamuelaflyer]

Dusting the furniture and moving a few pieces around would have been a more apt tag line imo.

 

[kdryden99]

Interesting stuff. I particularly find it interesting that they are basically just shuffling front offices except for Marketing. They don't have someone from inside to slot in a spot there. That gives me hope that they will pull someone in from outside the organization with a fresh perspective who understands the need for more communication with folks like us.

Probably also someone who is more adept at using social networks and internet than the current people in place

 

[Jolteon]

I really hope that this accelerates Ford's EV roadmap, which is honestly a very small and underwhelming roadmap at the moment - Mach-E is great, but then there's nothing for what at least a year before F-150 and Transit, while the majority of their lineup has no EV replacements announced.

I would love to be convinced that Ford sees the all-EV future, but I'm just not there yet.

Mach-E is great, and I want one, but I'm not buying Ford stock *any* time soon.

 

[Kamuelaflyer]

I really hope that this accelerates Ford's EV roadmap, which is honestly a very small and underwhelming roadmap at the moment - Mach-E is great, but then there's nothing for what at least a year before F-150 and Transit, while the majority of their lineup has no EV replacements announced.

I would love to be convinced that Ford sees the all-EV future, but I'm just not there yet.

Mach-E is great, and I want one, but I'm not buying Ford stock *any* time soon.

Time for you to move on then I guess.

 

[RonTCat]

Tim Stone came from Amazon recently. Very short stay. He was basically only known for bringing his dog to work.

 

[dbsb3233]

Probably also someone who is more adept at using social networks and internet than the current people in place

I'd settle for plain old email. They could certainly use better email communications through this painfully drawn-out Mach-E rollout to reservation holders.

 

[dbsb3233]

I really hope that this accelerates Ford's EV roadmap, which is honestly a very small and underwhelming roadmap at the moment - Mach-E is great, but then there's nothing for what at least a year before F-150 and Transit, while the majority of their lineup has no EV replacements announced.

I would love to be convinced that Ford sees the all-EV future, but I'm just not there yet.

Mach-E is great, and I want one, but I'm not buying Ford stock *any* time soon.

Can't build more BEVs without more batteries. That's already the limiting factor for the Mach-E.

Patience. This is a gradual ramp-up. The world has a sh*tload of battery factories coming online in the next few years, and the BEVs will follow.

Ford is doing it right IMO. Didn't make a lot of sense to jump in sooner. Battery prices still need to come down too. $50K-$60K is still too expensive to sell a massive amount of for something with the size and functionality of a compact CUV, and you can still get something like a CR-V or RAV-4 for ~$30K.

 

[kdryden99]

Can't build more BEVs without more batteries. That's already the limiting factor for the Mach-E.

Patience. This is a gradual ramp-up. The world has a sh*tload of battery factories coming online in the next few years, and the BEVs will follow.

Ford is doing it right IMO. Didn't make a lot of sense to jump in sooner. Battery prices still need to come down too. $50K-$60K is still too expensive to sell a massive amount of for something with the size and functionality of a compact CUV, and you can still get something like a CR-V or RAV-4 for ~$30K.

I agree with you but i think the there will be shortage of material so anybody wanting to buy batteries for their EV will have to wait and maybe those that bought early will get the bargain. never know. Tesla wanting to buy stake in LG speaks volumes of the battery war coming. Those who are late to the table might suffer.

 

[Jolteon]

Can't build more BEVs without more batteries. That's already the limiting factor for the Mach-E.

Patience. This is a gradual ramp-up. The world has a sh*tload of battery factories coming online in the next few years, and the BEVs will follow.

Ford is doing it right IMO. Didn't make a lot of sense to jump in sooner. Battery prices still need to come down too. $50K-$60K is still too expensive to sell a massive amount of for something with the size and functionality of a compact CUV, and you can still get something like a CR-V or RAV-4 for ~$30K.

That's also why it's frustrating that Ford hasn't built their own battery plant. I really thought I'd see that by now. It's like they're not taking it seriously - because I really think they aren't.

 

[Jolteon]

Time for you to move on then I guess.

...because only shareholders can buy cars?

Sorry, I don't understand what you're saying.

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