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Posts Tagged ‘Ford’s Mark Fields’

Ford Strategy Coming Under Tight Scrutiny

Board of directors expected to press Mark Fields for answers.

by on May.11, 2017

Ford CEO Mark Fields may be forced to answer some tough questions from the company's board of directors this week.

With its long history of sudden changes in top management, any suggestion inside the Ford Motor Co. that a key executive might be facing tough questions about the direction of their management is certain to create ripples.

The tremors around this week’s meeting of the company’s board of directors prior to the Ford’s annual shareholders meeting were created by reports that CEO Mark Fields was being asked to explain the company’s less than stellar performance in the first quarter of 2017.

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Ford’s profits dropped at the same time rivals such as General Motors Co., Fiat Chrysler Automobiles NV and Daimler AG were all posting big increases in profitability. The concerns were exacerbated by thousands of headlines indicating that on a market cap basis Tesla was now worth more than Ford. (more…)

Ford Profits Slump in Third Quarter

Automaker still on track for most profitable year ever.

by on Oct.27, 2016

Ford CEO Mark Fields described the company's outlook for the industry for this year as "realistic."

Ford Motor Co., whose executives predicted that the auto industry was facing challenges, saw its net income drop by 47% to $1.08 billion during the third quarter.

The third quarter is generally regarded as the toughest for automakers because they have to absorb the high cost of models change over. However, rival automakers, such as General Motors, Fiat Chrysler Automobiles N.V. and Daimler AG, have already reported their earnings increased during the third quarter.

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“This quarter we delivered key elements of our growth plan by fortifying our core business, with the launch of the all-new Super Duty pickup, transforming Lincoln with the new Continental and investing in emerging opportunities with the acquisition of the Chariot crowd sourced shuttle service. Importantly, we remain on track to deliver one of our best profit years ever,” noted Mark Fields, Ford’s chief executive officer. (more…)

Ford Will Offer Driverless Tech to Consumers by 2025

Fields believes costs will drop as scale increases.

by on Sep.12, 2016

Ford CEO Mark Fields detailed the company's plans for driverless vehicle technology.

Ford Motor Co. hopes to begin selling fully driverless vehicles to consumers by 2025, CEO Mark Fields says, about four years after the automaker begins marketing the technology to ride-sharing and delivery fleets.

Ford recently turned the auto industry’s conventional wisdom on its head by saying it plans to go beyond basic autonomous technology — which would require a trained “operator” ready to take control in the event of an emergency. Instead, Ford wants to take the driver out of the picture entirely.

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“We believe the next decade will be defined by the development of autonomous vehicles,” CEO Fields said during a conference Ford is sponsoring this week looking at future trends. (more…)

Ford Posts Lower Than Expected Q2 Profit

Despite missing analyst estimates, company sets new record.

by on Jul.28, 2016

Ford Motor Co.'s second-quarter profits fell short of analyst estimates at $2 billion.

Ford Motor Co. second-quarter profits came in below expectations, as the company’s operations in South America lost money and Ford Credit’s profits fell due to a decline in the value of off-lease used cars sold at auction during the quarter.

Overall, Ford reported net income $2 billion in the second quarter, which was down $190 million from a year ago. Additionally, total company adjusted pre-tax profit of $3 billion in the second quarter, typically the industry’s most profitable, was down $293 million while earnings per share were 49 cents per share – down 5 cents per share from a year ago.

Earnings News!

The results fell short of analyst consensus estimates of 60 cents per share; however, company revenue was up by $2.2 billion to $39.5 billion, exceeding analyst estimates of $36.1 billion. (more…)

Ford’s Fields Collects $18.6 Million for 2015

CEO takes small compensation cut due to pension fluctuation.

by on Mar.18, 2016

Ford Motor Co. CEO Mark Fields earned nearly $18.6 million in total compensation in 2015, including a base salary of $1.75 million.

Last year was banner year for auto industry sales; however, Ford executives, led by CEO Mark Fields’ $18.6 million in compensation, fared well, they didn’t set new records in 2015.

Fields earned just under $18.6 million in salary and incentives, which was down from the previous year’s total of $18.9 million. The difference stems from a change in pension value. It dropped to $858,157 from $3.6 million in 2014. Pension values change annually due to a variety of factors, including discount rates and other issues beyond Ford’s control.

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However, in terms of what Fields found in his paycheck every two weeks, his base salary increased from $1,662,500 to $1,750,000. Overall, his compensation includes a $3.2 million bonus, long-term stock options and other awards. (more…)

Ford Expects Continued Growth, Profits in Europe

Europe boss Farley lays out plans for future.

by on Feb.03, 2016

Ford of Europe President Jim Farley said the company expects the division to be profitable again in 2016.

Once is not enough when it comes to Ford being profitable in Europe and the company is taking steps, including projected job cuts.

Executive Vice President Jim Farley, formerly the automaker’s marketing guru, told the media yesterday that the automaker’s profit in 2015 will be repeated again this year and beyond.

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“Our plan’s about creating a vibrant and sustainable business,” said Farley, head of Ford’s Europe, Middle East and Africa regions, said in an interview. “Making $259 million in Europe last year was nice, but we’re just getting started.” (more…)

Fields Keeps Eye on One Ford Prize: No Mergers

CEO says automaker plans to stay the course.

by on Jun.25, 2015

Ford CEO Mark Fields reiterated that the company is not looking to merge with Fiat Chrysler in San Francisco this week.

Ford Motor Co. won’t be engaging in any kind of tie up with Fiat Chrysler Automobiles NV, Ford Chief Executive Officer Mark Fields said this week.

Responding to questions from reporters at the annual “Further With Ford” conference, Fields said Ford wasn’t interested in a merger with anyone and instead will continue to follow the course laid out in the “One Ford Plan” that Ford adopted following a financial crisis nearly 10 years ago.

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“We have no interest or plan other than accelerating the One Ford Plan; delivering product excellence and driving innovation in every part of our business,” Fields said. “We are never going to take our eye off of being a great developer of cars, trucks and utility vehicles.” (more…)

Ford’s Smart Mobility Plan Changing Global Transportation

Maker’s 25 experiments expanding knowledge base.

by on Jan.06, 2015

Mark Fields, President and CEO, Ford Motor Company, delivers the opening keynote address at the 2015 International CES.

Ford is not just looking for ways to make cars smarter, it’s trying to change the way people around the world get from place to place. The automaker introduced its plans to do that as well as addressing its progress on autonomous vehicles as well at the Consumer Electronic Show today in Las Vegas.

Ford CEO Mark Fields told a packed house during his keynote address at CES that the automaker is actively pursuing an autonomous vehicle. However, he noted it’s not a race to get done first, but more important to get it done right and make it affordable.

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“Our priority is not in making marketing claims or being in a race for the first autonomous car on the road,” Fields said. “Our priority is in making the first Ford autonomous vehicle accessible to the masses and truly enhancing customers’ lives.” (more…)

Ford’s Fields Makes Mark with New Appointments

CEO replaces Farley as head of Lincoln.

by on Jul.22, 2014

Kumar Galhotra is succeeding Jim Farley as President of Lincoln. Farley remains in charge of Ford's global marketing efforts.

Less than a month after taking over as Ford Motor Co.’s CEO, Mark Fields is making his first tweak to the company’s leadership team by replacing Jim Farley as the head of Lincoln with Kumar Galhotra, who had been vice president of engineering. The pair will report to Fields and the change is effective Sept. 1.

Farley, who came to Ford from Toyota with a reputation as a brilliant marketer and will remain in charge of global marketing, was charged with creating a new approach to customers for the company’s struggling luxury unit.

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However, as Lincoln rebuilds and expands it’s only natural that the brand has a dedicated leader, Ford officials said. (more…)

Mulally on Fields on Ford

Keeping things "orderly" doesn't mean doing the same-old same-old.

by on May.02, 2014

Ford CEO Alan Mulally, Chairman Bill Ford, and CEO-to-be Mark Fields at Thursday's news conference.

July 1 will bring one of the biggest transitions Ford Motor Co. has experienced in years – but don’t expect to see many changes, short of who gets the best parking spot in the underground garage at Glass House, the automaker’s suburban Detroit headquarters.

In what was arguably the worst-kept industry secret in some time, Ford officially confirmed that the 68-year-old Alan Mulally well retire as CEO and hand the reins over to his hand-picked protégé, Mark Fields at the mid-year mark.

The Last Word!

And in both their Thursday morning news conference, as well as subsequent interviews with, the two executives repeatedly sounded the same phrase to describe the “smooth and orderly” transition to come.

While there’s some careful media coaching at work here – consumers and investors alike crave a sense of consistency – that is much more than PR-speak at work.