By Tajudeen Adebanjo
Ford is continuing to streamline and transform its global business, making changes in how the company is organised and operates to deliver executional excellence that benefits customers and delivers sustained profitable growth.
Jim Farley has succeeded Jim Hackett as Ford’s President and Chief Executive Officer (CEO).
He has outlined key goals and organisational changes during a virtual town hall meeting with the company’s global team.
Farley said Ford plans to move with urgency to turn around its automotive operations – improving quality, reducing costs and accelerating the restructuring of underperforming businesses.
At the same time, Ford, he said, will grow by “allocating more capital, resources and talent to its strongest businesses and vehicle franchises; expanding its leading commercial vehicle business with a suite of software services that drive loyalty and recurring revenue streams; offering compelling, uniquely Ford fully electric vehicles at scale around the world, including Transit, F-Series, Mustang, SUVs and Lincoln; adding more affordable vehicles to its global line up, including in North America and standing up new customer-facing businesses enabled by Argo AI’s world-class self-driving system.
“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. Now it’s time to charge through that door.
“We are going to compete like a challenger – allocate capital to higher growth and return opportunities to create value – and earn customers for life through great products and a rewarding ownership experience.”
Ford also announced some key leadership changes.
John Lawler, 54, has been appointed as Chief Financial Officer (CFO), overseeing the Finance and Ford Motor Credit organisations.
Lawler succeeded 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 October 15 to ensure a smooth transition.
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