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Joined: Wed Oct 26, 2016 11:58 pm

Ford fires CEO Fields, in part, for lagging on electric cars

Thu May 25, 2017 11:46 pm ... ctric-cars
t's all the buzz of the auto industry this morning: Ford has fired its CEO Mark Fields and will replace him with Jim Hackett, former CEO of Michigan furniture maker Steelcase.

Hackett presently oversees the Ford unit working on autonomous vehicles.

The company is expected to make the announcement this morning, according to numerous media reports from sources briefed on the move.

Articles confirming the expected firing came last night from both The New York Times and business magazine Forbes.

Fields, a 28-year Ford veteran, was tapped to lead Ford in 2014 by Alan Mullaly, who had been brought in from Boeing to turn around the company in 2006.

Mullaly famously did just that, including taking a loan of tens of billions of dollars to fund a wholesale renovation of the company's global product lineup. Fields, the insider "car guy," became product chief Mullaly proved to have excellent timing, and Ford's restructuring was underway by the time of the deep recession that pushed competitors GM and Chrysler into bankruptcy.

Ford famously ended up requiring no direct financial assistance (it did receive a $5.9 billion low-interest loan from the Department of Energy), unlike the other two.

But if Mullaly's charge was to save the company, the task for Fields may have been harder still: transform it.

The industry widely acknowledges that the combination of vehicle electrification, autonomy, connectivity, and sharing will wreak big changes that are, so far, poorly understood.

Ford is viewed by those in the media who cover it as a company that talks a great deal about those topics, often at the expense of sharing actual information on actual cars.
it is a two page article check the rest out at the link

Not as cut and dry as the the heading suggests. Fields had a big mountain ahead of him to transform the company and get EV's out and running in the community

Posts: 99
Joined: Wed Oct 26, 2016 11:58 pm

Re: Ford fires CEO Fields, in part, for lagging on electric cars

Sat May 27, 2017 12:40 am

Tesla’s irrational valuation and Mark Fields’ irrational ouster both stem from the same thing: decades of alienation between legacy automakers and the public. A lot of consumers consider big automakers boorish and auto dealers beyond boorish, but had nowhere to turn until lately. Tesla represents a long overdue agent of change in an industry considered padlocked to newcomers. Investors like the story.

Therefore, Musk sells a few cars and gets hoisted onto investors’ shoulders and marched around the stadium while Fields gets tarred and feathered in the parking lot for simply conducting business as usual. Business as usual is simply finished, especially auto business as usual. How Jim Hackett, a 62-year-old furniture designer, will steer Ford through a sea change in mobility and leapfrog Musk et al remains to be seen.

TeslaMondo thinks the Fields ouster will lead to more shakeups as Big Auto struggles with the Tesla “drop in the bucket” that’s turning into a tsunami. It’s no accident that this is happening just as Model III debuts. The press may refer to spooky mobility overtures by Google and Apple, but those are still abstract. Tesla is concrete.

Tesla is doing to autos what Amazon is doing to retail, for the same reasons. People generally don’t have a great time at retail stores. The layout sucks. The help sucks. The parking lot sucks. The elapsed time sucks. So they’re keen to ditch the whole scene and try “cloud retail.” Do you have a meaningful relationship with your insurance agent? Probably not, hence the advent of “cloud insurance” like GEICO, Progressive etc. Tesla sells the closest thing you can get to a cloud car, and it’s going to get a lot “cloudier” when autonomous fleetism takes over.

Do you feel good about auto companies, despite a steady drumbeat of news about trying to skirt recalls, sidestep warranty claims, fudge fuel economy, fudge emissions, retard fuel economy mandates, ignore longstanding problems like the Ford Focus transmission?

How about auto dealers? Do you feel good about them?

So the industry deserves comeuppance. It’s been a long time coming. Who should be next to go? How ’bout Sergio Marchionne, who begs everyone to avoid his electric Fiat compliance car, but will tinkle with glee if you buy a Jeep or a Heck Cat? Sounds like a CEO of the automotive past, not future. How about Akio Toyoda, who foolishly put his chips on fuel cells and hybrids and thereby set Toyota back almost a decade in cultivating the next-level EV tech that Tesla, a mere rookie, now defines.

If Fields is out, why are they still in? ... rk-fields/

Some food for thought on this topic

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