Ford Forces Out CEO and VP In Massive Management Shakeup

Ford Forces Out CEO and VP In Massive Management Shakeup
Ford Motor Co., in a broad management shake-up, named Jim Hackett, former CEO of Steelcase, as its new CEO, replacing Mark Fields, who is stepping down amid pressure from shareholders over a slumping stock price.

Ford said Fields, 56, has elected to retire from Ford after 28 years with the company.

“We’re moving from a position of strength to transform Ford for the future,” Executive Chairman Bill Ford said in a statement Monday. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto industry and the broader mobility space. He’s a true visionary who brings a unique, human-centered leadership approach to our culture, products and services that will unlock the potential of our people and our business.”

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TheSteveTheSteve - 5/22/2017 1:28:15 PM
-1 Boost
re Ford's "Slumping stock price" -- We "masses" like to point our finger at big bad corporations for doing "bad stuff," but we don't realize that we are fueling the demons. We, as investors, vote with our dollars by investing in companies that have "the best returns." That means:
(1) We expect the companies we invest in to generate big profits.
(2) We value a high return on investment (where we focus) over ethics, social justice, fair trade, etc., (where we don't focus).
(3) We, as investors, fuel the "big profit, at any cost" mindset in corporations, because we have it, as investors.

When Walmart stock was skyrocketing, investors flocked to buy it, in effect turning a blind eye to a decades-long history of Walmart knowingly and willfully sourcing its cheap products from Asian sweatshops where children work 14-hour days in dismal conditions, and where workers die from appalling work conditions (e.g., hundreds perishing in a factory fire). Nike is another known offender, and these two aren't rare exceptions. This situation persists, to this day!

Investors flocked to Volkswagen, makers of "Clean Diesel" and providers of solid returns because... well... solid returns on investment.

And as investors, we like to hide behind the disclaimer of "we didn't know they were evil." But that's just choosing not be accountable for our decisions, and blaming someone else for how we choose.

Greed, fraud, deception, and the collapse of giga-corporations (e.g., Enron, GM, Chrysler, numerous financial institutions during the Financial Crisis, etc.) and a hot stock market benefiting from the massive profits of these companies before they fall, are all symptoms of the interrelationships of such things. Expect more of the same, so long as the mass mindset is focused on "getting what I can" without concern for the common good of our society (i.e., We, The People), or the people of other, poorer countries, whom we can exploit for our benefit (often with justifications such as "We've helped them out! They used to live on a dollar a day, and we pay them $3 a day! They're better off due to our kindness and generosity!")


xjug1987axjug1987a - 5/22/2017 2:43:07 PM
+1 Boost
Not sure what that's all about but Mark Fields is failing as a CEO alot of us saw that writing on the wall. But to your point, why don't you sell everything you have an give to the poor or are you advocating the Gubment take from folks YOU think have more than they should and give to folks YOU think don't have enough? Because everyone knows that having stuff and money makes you happy. Tell that to Chris Cornell ($60M) and hundreds of others... After that why don't you move to the place that is better than America. Otherwise STFU!




xjug1987axjug1987a - 5/22/2017 2:30:39 PM
+1 Boost
You heard it here first: http://www.autospies.com/news/TRUMPED-Ford-To-Eliminate-10-Of-All-White-Collar-Jobs-In-US-In-Cost-Cutting-Move-92896


MDarringerMDarringer - 5/22/2017 8:17:28 PM
+1 Boost
Mark Fields is an idiot. He is certainly no Alan Mulally. Mulally was much more in tune with dealers.


MrEEMrEE - 5/22/2017 8:54:33 PM
+2 Boost
Office Utility Vehicle to be top priority.


MorePowerMorePower - 5/23/2017 2:06:48 AM
+1 Boost
Looks like making vehicles for rental fleets and government agencies was not enough.


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