By on April 22, 2014
Mark Fields, Ford Group VP Derrek Kuzak, Bill Ford Jr., Alan Mulally

Mark Fields, Ford Group VP Derrek Kuzak, Bill Ford Jr., Alan Mulally

Two of the most reliable reporters on the automotive beat, Karl Henkel and David Shepardson of the Detroit News, have reported that their sources confirm that Ford Motor Co. CEO Alan Mulally will step down later this year and that Mark Fields, Ford’s chief operating officer, will be named to the CEO position. Earlier on Monday, Bloomberg News reported that Ford “may announce the moves as soon as May 1.” Ford’s annual corporate meeting is scheduled for May 8 in Delaware, with the FoMoCo board of directors meeting the prior day. Mulally, 68, has been with Ford since 2006 and he’s generally credited with successfully guiding the automaker through the troubled waters that brought crosstown rivals General Motors and Chrysler to bankruptcy and a government bailout.

The move is seen by most as a formality and that Fields, 53, has been assured of replacing Mulally since he was promoted from President of the Americas to COO in late 2012. Mulally has previously said publicly that he plans to remain as Ford’s CEO through at least 2014. Other than a stint at IBM, Fields has been at Ford for most of his adult life, having joined the company 25 years ago.

A Ford Motor Company spokesperson declined to confirm or deny the reports.

So that’s the boilerplate news. In the background of the story, though… (Read More…)

By on April 21, 2014

escort

While Ford’s new compact Escort sedan was developed by Ford’s Aisa-Pacific R&D team specifically for China, Ford CEO Alan Mulally indicates that the company has more global plans for the car, including the possibility of selling it in the United States. Mulally told Automotive News that the Escort will likely go on sale in other markets besides China. He said that while the company already has the Focus in the stateside C segment, the Escort could allow the company to attract consumers at a new price point in that segment. (Read More…)

By on November 28, 2013

YouTube Preview Image

The all new, next generation Ford Mustang will have its world premiere next Thursday, Dec. 5, 2013. Reflecting the fact that for the first time Ford will be selling the Mustang globally, including in right hand drive format, the car will be simultaneously debuted in six cities around the world, on four different continents. For the North American market, Ford will get top billing that day on the ABC television network’s popular “Good Morning America” show, broadcasting from New York City, at the same time that the new Mustang will be revealed at events in: Los Angeles, California; Sydney, Australia; Shanghai, China; Barcelona, Spain, and near Ford’s world headquarters in Dearborn, Michigan. (Read More…)

By on October 19, 2013

ford-ceo-alan-mulally-china-lincolnjpg-894a92e3f2c9121aThe rumor mill has been grinding away as of late regarding the possible return of Ford CEO Alan Mulally to helm either one of two of Seattle’s many economic engines: Microsoft and Boeing. In the face of these rumors, Mulally has opted not to dispel the rampant speculation.

(Read More…)

By on September 6, 2013

Ferdinant_Piech_by_Stuart_Mentiply

The C-Suites of two major auto makers are unlikely to change in the near future, despite rumors suggesting that both Ferdinand Piech and Alan Mulally are set to depart both VW and Ford respectively.

(Read More…)

By on August 22, 2013

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At a dealer event in Sydney, Australia, Ford CEO Alan Mulally defended the company’s decision to close its Broadmeadows and Geelong assembly plants in this country, saying it was Ford’s only option if they wanted to remain in the Australian market, what Mulally called the most competitive in the world. The Ford executive also explained that the automaker is taking three years to manage to shutdown in order have an orderly transition and to treat “stakeholders” equitably. (Read More…)

By on August 9, 2013

ford-ceo-alan-mulally-china-lincolnjpg-894a92e3f2c9121a

China has become an area of tremendous potential for companies as the nominally communist country has embraced capitalism. The hybrid result, according to Ford CEO Alan Mulally, is in some ways an improvement on what’s been a pretty sluggish and inefficient democratic process elsewhere in the world.

(Read More…)

By on September 12, 2012

Ford is set to promote Mark Fields, head of Ford’s operations in the Americas, to the newly created post of COO, paving the way for him to succeed Alan Mulally as CEO.

(Read More…)

By on September 9, 2012

 

Ford won’t be following in the footsteps of Renault and other auto makers that have introduced “low cost” brands like Dacia. But the company hasn’t ruled out a model line of cheaper vehicles either.

(Read More…)

By on March 16, 2012

Contrary to initial reports, Ford CEO Alan Mulally told Canadian newspaper The Globe and Mail that the Ford B-Max MPV will be coming to North America after all.

(Read More…)

By on July 26, 2010

When Chrysler’s CEO Sergio Marchionne took the stage over the weekend to honor Lee Iacocca with an induction into the Walter P. Chrysler Legacy circle, he admitted to feeling unworthy of honoring Chrysler’s most famous executive in recent memory, and called Ford’s Alan Mulally and the UAW’s Bob King to help share the honor. And being the business-obsessed type he is, Marchionne wasn’t about to let Mulally get on stage without at least a mention of Ford’s just-announced $2.6b profit. And though the recognition and ensuing awkward “moment” helped add to the usual Detroit gala hometown booster vibe, it also highlighted the fact that Chrysler still has yet to announce its Q2 results.
(Read More…)

By on May 13, 2010

After four straight profitable quarters, Alan Mulally’s forecast today of a “solidly profitable” 2010 shouldn’t come as a huge surprise. But, as Executive Chairman Bill Ford put it to Ford shareholders at the company’s annual meeting [via AP],

It is the very early days in our recovery. We still have a lot of debt

And he’s not kidding. As of the end of Q1 2010, Ford was carrying $34b in debt. And though Ford faces a higher cost of borrowing because of its staggering debts, Bill Ford was clear that he wouldn’t trade places with Ford’s Detroit competitors, which cleaned out their balance books, at the expense of government bailouts and accompanying PR problems. After all, while GM and Chrysler were rebuilding, Ford managed to outperform both of them last year by gaining sales and market share. And Ford’s leadership sees that momentum carrying forward into next year.

(Read More…)

By on April 7, 2010

With about $34.4b in debt and a selling rate that’s being propped up by incentives and fleet sales, Ford ain’t out of the woods yet by a long shot. But compared to the ongoing debacles in the RenCen and Auburn Hills, things are looking downright sunny under the sign of the Blue Oval. Most of the credit for that tends to go to CEO Alan Mulally, who left Boeing to assume control at Ford in 2006. There are people who want him gone. (Read More…)

By on January 27, 2010

For all the praise and positive comparisons he earns, Ford’s Alan Mulally still refuses to man up and acknowledge that at least one of his firm’s brands is as meaningful to the American consumer as Kaiser or Cord. And it’s not like Mulally can just ignore the brand’s slide into ignominy: after all, people notice when you never introduce new products for a brand that was wholly comprised of cheap rebadges in the first place. Well, Inside Line noticed, and they cornered Mulally at the Washington Auto Show to get his take on the brand with no purpose.

“The plan right now is (to develop) Ford, Lincoln and Mercury,” Mulally answered.

He said Ford is working to more effectively position Mercury with smaller vehicles that occupy the void between the mainstream Ford brand and Lincoln, which directly targets the luxury-premium market. “That’s our plan — to continuously improve the Mercury and Lincoln brands,” Mulally said.

But after a little more discussion, Mulally felt compelled to reiterate: “That’s the plan right now.”

(Read More…)

By on January 12, 2010
On the upswing (courtesy:thestar.blogs.com)

Despite Ford’s surging stock price, new models and rising customer confidence there’s always been that one bone of contention which had divided peoples’ opinion: debt. $35 billion of it. Though they’ve tried to restructure it, selling new shares and raising cash throughout 2009, it’s still a problem. But apparently it’s becoming less of a problem. ABC news report that Fitch Ratings upgraded their assessment of the risk of Ford defaulting on its debt obligations, basing their optimistic view on a better economic environment, the company’s stronger margins, increased market share and cash position. Oh yes, and a small matter of $5.9b in federal DOE retooling loans [full Fitch release here]. Ford’s Credit unit also received a hearty slap on the back from Fitch because of its improving access to capital, as its rating was raised from “CCC” to “B-”. But let’s not get carried away. While this is a positive step in Alan Mulally’s vision of a sustainable Ford, the rating still qualifies Ford debt as non-investment grade.

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