The board of directors at Ford Motor Company will be seeking answers from CEO Mark Fields on how the brand’s mobility strategy played a role in its lackluster annual earnings report. Inside sources claim board members made extra time leading up to Thursday’s annual shareholders meeting to discuss the company’s future with the CEO.
Fields has promoted Ford’s evolution into a mobility company ever since taking the helm in 2014 — something investors haven’t been particularly receptive of. During Fields’ tenure as CEO, shares in the company have fallen by 35 percent. However, with tech-focused companies typically receiving above-average valuations, the methodology behind his strategy appears sound. Ford has spent billions on the development of autonomous technology and showcased mobility concepts that even Tesla hasn’t bothered with.
While many seem too impractical or far-fetched to deserve serious attention, the capital behind its self-driving efforts have kept Ford near the front of the pack in the autonomous race. So, what’s the problem?
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