Posts Tagged ‘Mark Fields’
But Europe still an anchor.
by Paul A. Eisenstein on Apr.24, 2013
Ford Chief Operating Officer Mark Fields will have to show that the changes he made in the Americas can translate overseas.
It’s likely to be both the best of times and worst of times for Ford Motor Co. as it reports its first-quarter earnings today.
Industry analysts are uniformly anticipating the second-largest domestic automaker will report record pre-tax profits for North America – but continue to linger deep in the red in a European market that has plunged to its lowest levels in nearly two decades, with little near-term upside potential.
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The troubles in Europe, as well as an anticipated loss in South America, should cut 37 cents out of the maker’s operating profit, according to a poll by the Bloomberg news service of 17 automotive analysts. Nonetheless, Ford should deliver a strong overall report, according to most, with pre-tax earnings in North America expected to come in at $2.7 billion, according to both JPMorgan Chase and Morgan Stanley.
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Tags: Alan Mulally, Ford Europe, Mark Fields, auto news, car news, ford fields, ford news, ford north america, ford q1, ford q1 earnings, joe hinrichs, paul a. eisenstein, paul eisenstein, thedetroitbureau
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PR Chief Day takes on broader role.
by Joseph Szczesny on Feb.15, 2013
Ford heir Elena Ford gets one of two big promotions approved by Ford Motor board.
Two familiar names have been promoted by the Ford Motor Co. board of directors.
Elena Ford, great-granddaughter of the company’s founder, was tapped to serve as vice president leader of the company’s new Global Dealer and Consumer Experience organization, while Ray Day, a familiar figure to journalists following the company, was named group vice president of communications. He has led the Communications team as its vice president for the past five years. Both appointments are effective on March 1.
Day, who continues to report to Ford chief operating officer Mark Fields, remains responsible for the company’s global external and internal communications and public relations activities. His role includes building Ford’s reputation globally and leading communications efforts aimed at reach customers, employees, dealers, suppliers, news media, communities, governments and policy-makers.
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“Ray Day is a proven global leader who continues to take the company’s communications capabilities and the telling of our Ford story to increasingly higher levels,” said Ford President and CEO Alan Mulally. “Ray and his team are ensuring that everyone associated with Ford understands our One Ford plan and the progress we are making delivering profitable growth.”
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Tags: Alan Mulally, Mark Fields, auto news, car news, elena ford, elena niarchos, ford board, ford news, joe szczesny, ray day, thedetroitbureau
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Ford softening its opposition to diesels, as well.
by Bryan Laviolette on Feb.14, 2013
The Ram 1500 will begin offering a 3.0-liter turbodiesel.
Chrysler will add a diesel option for the Ram 1500 pickup, making it the only automaker to offer the high-mileage technology on a half-ton truck. It could be a significant additional inducement the announcement coming barely a month after the Ram 1500 was named North American Truck of the Year.
But Chrysler may not be the only maker to market a diesel standard-duty pickup for long. General Motors is reportedly considering such an option for its newly redesigned Chevrolet Silverado and GMC Sierra models, while Toyota and Nissan may add diesels when their redesigned Tundra and Titan models reach market.
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Meanwhile, diesels are rapidly gaining ground in other market segments. Chevrolet last week unveiled its new Cruze Diesel, the first passenger car model from General Motors’ largest brand to offer the powertrain technology since 1996. Mazda will add a diesel for its new Mazda6 later this year. And even Ford’s long-standing resistance to diesel power in U.S. passenger cars finally may be crumbling.
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Tags: Chevy Cruze diesel, Jonathan Browning, Mark Fields, Mazda 6 diesel, TheDetroitBureau.com., U.S. diesel, auto news, bryan laviolette, car news, chevrolet cruise diesel, chrysler diesel, chrysler ram diesel, diesel cars, diesel passenger cars, ford diesel, ford diesels, ford transit diesel, gm diesel, jaguar diesel, jeep diesel, land rover diesel, mazda6 diesel, passat diesel, ram 1500 diesel, thedetroitbureau, vw diesel
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But Europe's woes drag down Ford's full-year earnings.
by Paul A. Eisenstein on Jan.29, 2013
Demand for Ford's newest models buoyed North American earnings - but quality issues with models like Escape could also pose a drag.
Ford Motor says it made the highest fourth-quarter pre-tax profit in more than a decade. It earned $1.7 billion last quarter, due largely to increases sales of trucks and SUVs and higher prices for all models.
That was 31 cents a share, beating Wall Street forecasts which had ranged from 25 to 28 cents.
For all of 2012, the automaker’s net income was $5.7 billion, down $307 million than a year ago. It excludes some special charges.
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“The Ford team delivered strong results once again, underscoring that our One Ford plan is working,” proclaimed Alan Mulally, Ford president and CEO. “We are well positioned for another strong year in 2013, as we continue our plan to serve customers in all markets around the world with a full family of vehicles — small, medium and large; cars, utilities and trucks — with the very best quality, fuel efficiency, safety, smart design and value.”
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Tags: Alan Mulally, Ford Europe, Mark Fields, auto news, car news, ford 2012 profit, ford atlas, ford earnings, ford f-series, ford news, ford profits, ford q4 2012 earnings, ford trucks, paul a. eisenstein, paul eisenstein, thedetroitbureau
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Unexpected unveiling offers a hint of replacement for best-selling F-Series.
by Joseph Szczesny on Jan.15, 2013
The surprise debut of the Ford Atlas concept pickup.
Ford Motor Co. stock took a sharp jump following the automaker’s unexpected unveiling of the Atlas Concept truck, a prototype offering a hint of what’s to come when the maker replaces its best-selling F-Series pickup in 2014.
In an appearance to an industry conference coinciding with the North American International Auto Show, Ford CEO Alan Mullaly marveled at the reaction to the preview. The unveiling of the Atlas had been whispered about but unconfirmed by the maker until the huge silver truck descended from the ceiling of Detroit’s Joe Louis Arena.
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“How about that,” proclaimed Mulally in an off-the-cuff remark following his speech to the Automotive News World Congress. By the time the NY Stock Exchange closed, Ford common was up 31 cents, or 2.22%, for the day, to $14.30.
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Tags: 2013 north american international auto show, Alan Mulally, GM stock, Mark Fields, auto shows, concept, ford atlas, ford atlas concept, ford concept truck, ford detroit auto show, ford f-150, ford f-series, ford pickup, ford shares, ford stock, gm shares, pickups, thedetroitbureau, trucks
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Truck wars keep heating up as Ford concept takes aim at new Chevy, GMC and Chrysler pickups.
by Paul A. Eisenstein on Jan.15, 2013
The Ford Atlas Concept signals the maker's plans for the next-generation F-Series pickup.
Ford tossed a hand grenade into the already escalating truck wars, literally dropping in on the North American International Auto Show with the Atlas, a concept pickup that provides some clear hints about where the maker is going with the next-generation F-Series, the country’s best-selling truck for more than a third of a century.
The widely-rumored reveal came just a day after Chrysler won the coveted North American Truck of the Year award during the Detroit Auto Show’s opening ceremonies. Meanwhile, Chevrolet had hoped to steal the show with Monday’s official unveiling of the next-generation Silverado pickup.
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Senior Ford officials did little to deny that they were intentionally trying to steal their competitors’ thunder by bringing the Atlas to the 2013 NAIAS and teasing what they promised would be a wide range of new industry-benchmark features and capabilities.
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Tags: 2013 north american international auto show, Mark Fields, auto news, auto shows, car news, concept, ford atlas, ford atlas concept, ford concept truck, ford detroit auto show, ford f-150, ford f-series, ford news, ford pickup, paul a. eisenstein, paul eisenstein, pickups, thedetroitbureau, trucks
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Maker hopes to improve share price, debt rating.
by Paul A. Eisenstein on Jan.10, 2013
Ford is shining a little brighter in investors' eyes.
Ford Motor Co. will take another critical step in its recovery by doubling its shareholder dividend, the maker today announced. Stockholders of record on January 30, 2013 will receive a 10-cent payout.
The move comes as the maker prepares to announce strong earnings for the final quarter of 2012 – and as its profit margin climbs to an all-time record level. Ford officials are clearly hoping to give a much-needed boost to the company’s stock price, which only recently began gaining momentum after more than a year in the doldrums.
The move also reflects growing optimism among analysts and ratings agencies, several of which recently bumped Ford debt up to investment grade after a decade in junk bond territory.
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“Our ability to double our dividend in one year is a testament to our One Ford plan, which has enabled us to maintain a solid balance sheet, while at the same time growing our business to provide our shareholders with more return on their investments,” said Bob Shanks, chief financial officer, Ford Motor Company.
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Tags: Alan Mulally, Mark Fields, auto news, bob shanks, car news, ford debt, ford debt rating, ford dividend, ford earnings, ford news, ford shareholders, ford stock, paul a. eisenstein, paul eisenstein, thedetroitbureau
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Maker remains committed to MyFordTouch despite problems.
by Paul A. Eisenstein on Dec.19, 2012
Ford Chief Operating Officer Mark Fields insists recent quality problems are "isolated incidents."
Ford has long claimed that “Quality is Job 1,” though it has taken a drubbing in recent months for some nagging problems that have seen it tumble on quality and reliability surveys.
The maker intends to aggressively address such “isolated incidents,” Ford’s new Chief Operating Officer Mark Fields insists. That notably includes the maker’s Sync and MyFordTouch infotainment technologies which have come in for some of the sharpest criticism. But Ford will also have to deal with a variety of other problems that have seen some of its newest models repeatedly recalled in recent months, including a variety of recalls.
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“We’ve had a few issues,” acknowledges Fields, who until a few weeks ago served as Ford’s President of the Americas. “When we see a problem we go at it proactively to address the issue as quickly as possible.”
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Tags: Ford, Ford Escape, Mark Fields, MyFordTouch, auto news, car news, ford escape recall, ford fusion recall, ford news, ford quality, ford recalls, ford sync, infotainment, paul a. eisenstein, paul eisenstein, thedetroitbureau
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Demand expected to surge – though Washington gridlock still poses a risk.
by Paul A. Eisenstein on Nov.28, 2012
Toyota's Jim Lentz sees good times ahead for the U.S. auto industry.
It’s been the little engine that could, driving along an economy long struggling to avert a double-dip recession. And now, amidst growing signs that the U.S. economy is clearly on the mend, industry leaders are increasingly confident the auto industry is heading in fast-forward towards some extremely good – though probably not record – years.
As manufacturers get set to report extremely strong numbers for October, Toyota’s top American executive, Jim Lentz said he expects to see 2012 end with sales of 14.3 million – about 1 million more than a year before and a roughly 40% increase from the depths of the recession.
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“And the forecast ahead looks even better,” Lentz said as he opened his keynote remarks at the opening of the annual LA Auto Show. “Analysts expect we will reach 16 million in just a few short years.”
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Tags: LA Auto Show, Mark Fields, U.S. auto sales, auto news, car news, car sales, car sales economy, economic recovery, jim lentz, november car sales, paul a. eisenstein, paul eisenstein, thedetroitbureau, us economy
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Farley, four other senior execs get expanded duties.
by Paul A. Eisenstein on Nov.01, 2012
Mark Fields becomes the new Ford COO and heir-designate to succeed CEO Alan Mulally.
Ford Motor Co. has come a step closer to resolving two of the most frequently heard questions in the automotive industry, but it has not given a complete answer as to when CEO Alan Mulally will step down – and who will succeed him.
But a strong clue emerged Thursday morning with news that Mark Fields, currently Ford’s President of the Americas, will become the maker’s new Chief Operating Officer, a position all but certain to ensure he eventually moves up upon Mulally’s retirement. But the 67-year-old CEO, clearly in no rush to leave, will pare back his day-to-day role but continue as Ford’s chief strategist and internal cheerleader.
“At least thru 2014. Whatever happens, Alan is here two more years. And we could go longer” Ford Chairman Bill Ford clarified when asked how long Mulally would stay. “Obviously, I love Alan. I’ve never enjoyed working with anyone so much (and) I’d like him to stay forever. But part of the manifestation of a great CEO is developing a great team.”
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So, from a day-to-day management perspective, the man in charge will now be 51-year-old Mark Fields, the Jersey Boy who many – including Mulally — credit with creating the “great elements” of a turnaround plan which helped Ford avoid bankruptcy, unlike its cross-town rivals General Motors and Chrysler.
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Tags: Alan Mulally, Bill Ford, Ford, Jim Farley, Mark Fields, auto news, car news, fields coo, fields new ford coo, ford management, ford management shake-up, ford news, joe hinrichs, mulally stays as ceo, paul a. eisenstein, paul eisenstein, thedetroitbureau
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