Autoblog

Ford announces retirements of Kuzak and Booth, adds Huntsman to board

David Kiley — Thu, 09 Feb 2012 09:45:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

Ford Motor Co. today made several big-name executive and boardroom announcements, including the appointment of a former Republican presidential candidate, but none changed the almost certain succession of CEO and President Alan Mulally.

Mulally said Thursday with a snicker, "I looked over the press release very clearly and saw that my name was not among those retiring."

Mulally announced Thursday that Chief Financial Officer Lewis Booth (above, middle), 63, and Group Vice President and Global Product Development Chief Derrick Kuzak (above, left), 60, are retiring effective April 1. Booth will be replaced by Vice President and Controller Bob Shanks, and Kuzak will be replaced by VP of Engineering and Global Product Development Raj Nair. Both successions involve executives who have long been groomed for the top jobs, and represent orderly transition at Ford.

Ford's board of directors, which cleared the new executive appointments in their Wednesday meeting this week, also announced the addition of former Utah Governor, U.S. Ambassador to China and recent Republican presidential candidate John Huntsman Jr. (above, right) to the board. Huntsman represents an addition, and their were no board retirements.

Continue reading Ford announces retirements of Kuzak and Booth, adds Huntsman to board

Ford announces retirements of Kuzak and Booth, adds Huntsman to board originally appeared on Autoblog on Thu, 09 Feb 2012 09:45:00 EST. Please see our terms for use of feeds.

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Ford denies starting search for Mulally successor

Noah Joseph — Thu, 08 Dec 2011 11:00:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

There's little question that bringing Alan Mulally on board at Ford was the smartest move the company made in decades, nor is there much debate that credit for the company's salvation is largely due to his office. But could his number be up?

Having joined Ford in 2006 as an outsider from aerospace giant Boeing, Mulally (pictured above, left) has been on the job for over five years now. And while he's showing no signs of slowing down, sources indicate he is unlikely to stay on the job beyond another year or two.

The question, then, is who might replace him. Citing internal sources, The Wall Street Journal recently reported that Ford has begun putting together a short-list with four candidates: two internal and two external. However, TheDetroitBureau.com has offered a rebuttal saying that the Blue Oval denies beginning such a search.

Either way, at some point, a search will need to begin. Mulally's case notwithstanding, cases of successful hires from outside the business to the top of a major automaker like Ford have been few and far between, but the company could be forced by shareholders to consider outside candidates as well as internal promotions.

The list, according to the WSJ, currently includes Mark Fields (pictured above at right), currently Ford's President of the Americas; Joe Hinrichs (second from right), head of Ford's Asian operations; John Krafcik, a former Ford engineer who now runs Hyundai in America; and Phil Martens, Ford's former product development chief who now runs aluminum manufacturer Novelis.

Again, for its part, Ford denies that it has begun searching for Mulally's successor, but prudent management could very well dictate that it must begin looking - whether the much-lauded executive is ready to retire or not.

Ford denies starting search for Mulally successor originally appeared on Autoblog on Thu, 08 Dec 2011 11:00:00 EST. Please see our terms for use of feeds.

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List of Mulally successors narrowed down to four

Jeremy Korzeniewski — Mon, 28 Nov 2011 14:00:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

How do you replace the man credited by Time Magazine with managing "the biggest business turnaround of the Great Recession?" That's a very good question, and one that the Ford board of directors is grappling with as company CEO Alan Mulally edges closer to retirement age.

At 66, Mulally isn't exactly far past his prime, and Executive Chairman Bill Ford is said to be in no hurry to welcome in a successor. That said, the timing of Mulally's exit from Ford is likely to be a determining factor in the decision to hire his replacement.

Current CFO Lewis Booth, at 63 years of age, could potentially hold the seat at the head of Ford for a few years if Mulally were to retire earlier than expected. If that doesn't happen, Mark Fields, Ford's President of the Americas, is cited as the most likely choice as its next CEO.

There are two other potential candidates, reports Automotive News. Jim Farley, vice president of global marketing, is on the short list, as is Joe Hinrichs, who heads Ford's Asia Pacific and African operations.

Insiders suggest that Ford may choose to keep Alan Mulally on its payroll in some unknown capacity to help mentor his replacement. Such a move could potentially keep both the rank-and-file Ford workers and Wall Street investors satiated.

List of Mulally successors narrowed down to four originally appeared on Autoblog on Mon, 28 Nov 2011 14:00:00 EST. Please see our terms for use of feeds.

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Stack of potential suitors line up at Ford for Life After Mulally

Paul Eisenstein — Fri, 22 Jul 2011 17:59:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

Who Could Possibly Replace Ford's Golden CEO?

Insiders say the jockeying for Mulally's position has already begun.

There was a time when some folks in Detroit were convinced Lee Iacocca's last name was really an acronym for: I Am Chairman of Chrysler Corp. Always. Indeed, it took a shove from an increasingly frustrated board to finally get Lido to name his successor.

If anything, those on the Ford Motor Co. board of directors are putting CEO Alan Mulally in a bear hug, Chairman Bill Ford suggesting he'd keep the chief executive firmly planted in his office at Glass House until he was 80. For his part, the still-boyish former Boeing executive has said on more than one occasion that despite turning 65, he's not rushing to leave as long as he's having "fun." But as his fifth anniversary in Dearborn approaches it is no surprise that there's plenty of speculation about who might eventually replace Mullaly, if not when.

In decades past, Ford was land of the long knives, where power trumped all, and doing away with your rivals was only slightly less bloody than when the Borgias ruled in Rome. Mulally has made much of instilling a sort of "greater-good" mindset and one of the reasons for the maker's recent success has been that the highly political nature has been toned down a number of notches. Nonetheless, insiders say the jockeying for position has already begun.

Paul A. Eisenstein is Publisher of TheDetroitBureau.com, and a 30-year veteran of the automotive beat. His editorials bring his unique perspective and deep understanding of the auto world to Autoblog readers on a regular basis.

Continue reading Stack of potential suitors line up at Ford for Life After Mulally

Stack of potential suitors line up at Ford for Life After Mulally originally appeared on Autoblog on Fri, 22 Jul 2011 17:59:00 EST. Please see our terms for use of feeds.

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Ford talks Sync tweaks, adding airbag seatbelts to more models

Zach Bowman — Wed, 22 Jun 2011 10:01:00 EST

Filed under: Etc., Technology, Ford, Lincoln

Ford says that it's in the process of responding to customers who feel that the company's Sync and MyFord Touch systems are cumbersome or difficult to use. According to the Detroit Free Press, the company's internal quality evaluations have discovered a few issues. While speaking to reporters, Mark Fields, Ford's President of the Americas, said that the automaker is committed to improving the connectivity options in its vehicles, adding that by and large, customers enjoy the features. So far, it's unclear exactly what changes Ford will make to Sync and MyFord Touch/My Lincoln Touch moving forward, but we'd wager that software engineers will focus on further improving the software's voice-recognition system, though many Autoblog staffers hope they also reevaluate MyFord Touch's control scheme.

Fields also made it clear that the Blue Oval plans to expand its Sync AppLink service to the 2012 Fusion, F-Series, Expedition and even the Mustang. Currently, the $395 option is only available on the Fiesta, and it allows buyers to download various smartphone applications straight to their vehicle.

Finally, the Dearborn-based automaker said that we can also expect to see more seatbelts with integrated airbags crop up across is Ford and Lincoln lines. Right now, the safety device is only an option on the 2011 Ford Explorer.

Ford talks Sync tweaks, adding airbag seatbelts to more models originally appeared on Autoblog on Wed, 22 Jun 2011 10:01:00 EST. Please see our terms for use of feeds.

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Ford discloses exec salaries, Mulally package worth over $26M

Chris Shunk — Fri, 01 Apr 2011 16:32:00 EST

Filed under: Ford, Earnings/Financials, UAW/Unions

Ford had a very good financial year in 2010, with the company's second consecutive year-over-year market share increase and a net profit of $6.6 billion. Those sparkling stats made Ford's stock jump, with 68 percent in total gains for the year. And when stock prices soar, so do the executives' compensation.

The Blue Oval filed its annual proxy with the U.S. Securities and Exchange Commission, and the fine print reveals some very happy executives. At the top, CEO Alan Mulally scored $1.4 million in salary, as well as $9.45 million in cash bonuses. Not a bad take-home, but the big cash comes after adding in long-term stock options, which brings the total to $26,520,515. If ever an auto exec were worth $26 million, Mulally is it.

Ford Chairman Bill Ford, Jr., didn't do so bad, either. Ford's $1.4 million salary and $2.7 million bonus is overshadowed by long-term stock options that balloon the total to $26,460,998. Ford's numbers are a bit misleading since the chairman opted not to take any compensation until the company was solidly profitable.

Mark Fields, President of Ford Americas, took in $8.8 million in total compensation, followed by CFO Lewis Booth at $8.2 million and manufacturing and labor boss John Fleming at a mere $5.9 million. If you're counting at home, the top six reaped a total of $75 million in compensation in 2010. Now that's a good year, folks. Hit the jump to read over Ford's cash-stuffed press release.

[Source: Ford | Image: AP Photo/J. Scott Applewhite]

Continue reading Ford discloses exec salaries, Mulally package worth over $26M

Ford discloses exec salaries, Mulally package worth over $26M originally appeared on Autoblog on Fri, 01 Apr 2011 16:32:00 EST. Please see our terms for use of feeds.

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2011 Ford Explorer unveiled, tries crossing over on road to redemption

Sam Abuelsamid — Mon, 26 Jul 2010 00:01:00 EST

Filed under: SUV, Safety, Crossover, Ford, Design/Style

2011 Ford Explorer Deep Dive - Click above for high-res image gallery

UPDATE: When you're done reading part one, check out part two of our introduction of the 2011 Ford Explorer that focuses on new technology, powertrains and fuel efficiency.

In creating the 2011 Explorer, Ford engineers and designers had an enormously difficult task set before them. Ford's President of the Americas, Mark Fields, described the job as "Reinventing the SUV for the 21st century." Despite the near complete collapse of the traditional mid-to-large SUV market over the last several years, Ford still sees a substantial market for the capabilities of these boxy behemoths. Customers just don't want the traditional downsides that accompany these body-on-frame 'utes - specifically, their higher fuel consumption and poor ride and handling.

The new Explorer remains squarely targeted at traditional SUV buyers.

Since its debut some 20 years ago, the Explorer has sold over six million units, four million of which are still traversing the world's roads. Through much of the late-1990s and early part of the last decade, the Explorer was Ford's second-best-selling vehicle behind its F-Series pickups, regularly selling 400,000 units a year. Fast-forward to 2009, and that volume had plummeted to just over 52,000. Even so, Ford believes it still has an opportunity. According to the automaker's vice president of global marketing, Jim Farley, each year, at least 140,000 Explorer owners come back to Blue Oval dealerships looking to purchase new vehicles. And obviously, they just aren't buying Explorers.

When word got out that Ford was developing a new unibody Explorer off the same platform architecture that underpins the Taurus and Flex - not to mention the Lincoln MKS and MKT - many people wondered why Dearborn had elected to develop yet another crossover, especially since the Taurus X/Freestyle had just been killed due to slow sales. This predicament was not lost on Ford's product planners, and their four-wheeled response is a new Explorer that remains squarely targeted at traditional SUV buyers - shoppers that Ford sees as a distinct group from most crossover intenders. Long ago, Jeep proved with the Cherokee and Grand Cherokee that a unibody chassis isn't necessarily an impediment to building a fully capable off-roader, and Ford appears to have taken that lesson to heart, along with targeting big improvements in fuel economy and driving dynamics. Follow the jump to find out if they succeeded.

Gallery: 2011 Ford Explorer

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2011 Ford Explorer unveiled, tries crossing over on road to redemption originally appeared on Autoblog on Mon, 26 Jul 2010 00:01:00 EST. Please see our terms for use of feeds.

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Report: Q1 revenue, sales up at Ford on strong F-Series, Fusion sales

Chris Shunk — Wed, 14 Apr 2010 13:01:00 EST

Filed under: Car Buying, Ford, Earnings/Financials

By most accounts, Ford had a pretty good first quarter. Sales were up 37 percent versus the first three months of 2009, and The Blue Oval's market share rose an impressive 2.7 percentage points during the period. According to a report in USA Today, Ford President Mark Fields says that the extra showroom traffic led to added revenue for the company. And while added revenue doesn't always translate into increased profits, the extra cash generated by increased sales makes an "in the black" first quarter far more likely. If Ford does manage a profit in the first quarter, it would mark the fourth consecutive period of cash gains for the Dearborn, MI-based automaker. Impressive, considering Ford lost nearly $15 billion in 2008.

The sales gains at Ford were realized mostly from the sale of Blue Oval-badged cars, trucks and crossovers. Lincoln and Mercury didn't see much in the way of gains, but USA Today quotes Ford analyst George Pipas as saying most of the marketing money was spent on Ford, adding "If we were going to fix the business, we had to fix the Ford brand, because that's where we had the best chance of getting a return."

The Ford vehicle that realized the most gains in the first quarter was the Fusion. Ford's mid-size sedan saw an 81 percent increase in sales compared to the first three months of 2009. Ford also increased its share of the pickup truck market. The profit-rich F-Series increased its overall share of the truck market to 38.5 percent, up 5.3 percent year-over-year. Ford is expected to announce official first quarter earnings later in the month.

[Source: USA Today | Image: Bill Pugliano/Getty]

Report: Q1 revenue, sales up at Ford on strong F-Series, Fusion sales originally appeared on Autoblog on Wed, 14 Apr 2010 13:01:00 EST. Please see our terms for use of feeds.

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Video: Watch the live reveal of the 2012 Ford Police Interceptor

Sam Abuelsamid — Fri, 12 Mar 2010 19:29:00 EST

Filed under: Sedan, Government/Legal, Work, Ford, Police/Emergency

2012 Ford Police Interceptor reveal - Click above to watch the video

Earlier today, Ford unveiled its next generation Police Interceptor (they'd rather you not call it a Taurus) at the Las Vegas Motor Speedway before a group of police agency fleet buyers. The event was webcast live, but you can now watch a replay as Ford president Mark Fields and vehicle line director Scott Tobin explain the process of developing the new cruiser and how it differs from a civilian Taurus.

The Dodge Charger has been stomping all over the Crown Vic and Impala in recent years during the annual Michigan State Police vehicle test, but that process could end this year when the new ~~Taurus~~ Police Interceptor hits the track. The 365-horsepower Ecoboost-powered Interceptor should be right up there with the Dodge and may well provide better fuel economy to boot.

Ford isn't talking price yet for the new cop cars, but it aims to make it competitive with the rest of the class, and a claimed 25-percent boost in fuel economy compared to Crown Vic should help ease the pain of transitioning. Check out the video after the jump.

Gallery: 2012 Ford Police Interceptor

[Source: Ford]

Continue reading Video: Watch the live reveal of the 2012 Ford Police Interceptor

Video: Watch the live reveal of the 2012 Ford Police Interceptor originally appeared on Autoblog on Fri, 12 Mar 2010 19:29:00 EST. Please see our terms for use of feeds.

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Report: Mark Fields tells dealers new compact Mercury is coming in 2011

Sam Abuelsamid — Sun, 14 Feb 2010 17:25:00 EST

Filed under: Ford, Lincoln, Mercury

Lincoln Concept C - Click for high-res image gallery

At the National Automobile Dealers Association convention in Orlando, FL on Sunday, Ford's President of the Americas Mark Fields announced the first new product for Mercury in several years. The fate of Ford's middle brand has been in doubt for over a decade as models like the Tracer, Sable and Cougar have been discontinued. In what's surely welcome news to Lincoln/Mercury dealers, Fields informed NADA that Mercury would get a new small car based on the new global compact platform that underpins the forthcoming 2012 Focus and Grand C-Max.

The new baby Mercury will be one of 10 different vehicles that come off that platform and it's expected that a small Lincoln based on the Concept C that debuted at the 2009 Detroit Auto Show will also join it. The Mercury Mountaineer is not expected to be replaced when the new Explorer debuts later this year, leaving Mercury with the Milan, Mariner and the new compact. Fields gave no other details about the new car, but it could be a version of one of the other European Focus models, such as the coupe-convertible or the smaller five-seat C-Max.

Gallery: Detroit 2009: Lincoln Concept C

[Source: Reuters]

Report: Mark Fields tells dealers new compact Mercury is coming in 2011 originally appeared on Autoblog on Sun, 14 Feb 2010 17:25:00 EST. Please see our terms for use of feeds.

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Detroit 2010: Ford sweeps North American Car and Truck of the Year awards for 2010

Chris Paukert — Mon, 11 Jan 2010 08:57:00 EST

Filed under: Detroit Auto Show, Hybrid, Sedan, Truck, Work, Ford

Mark Fields, Ford's President of the Americas, accepts the hardware from Tony Swan of Car and Driver

For just the third time in the 17-year history of the North American Car and Truck of the Year, one manufacturer has taken home both pieces of etched glass. Ford's 2010 Fusion Hybrid and Transit Connect have yielded the hardware for the Dearborn automaker here at the Detroit Auto Show, with the Fusion emerging victorious over the shortlisted Buick LaCrosse and Volkswagen Golf, and the Transit Connect besting the Chevrolet Equinox and Subaru Outback.

The last time a single manufacturer won both the Car and Truck of the Year awards was back in 2006, when Honda did double duty with its Civic compact and Ridgeline pickup. In total, a U.S. automaker has won the car award nine times, and the truck award, 11 times. Official press release after the jump.

Gallery: 2010 Ford Fusion Hybrid

Gallery: 2010 Ford Transit Connect

[Source: Ford]

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Continue reading Detroit 2010: Ford sweeps North American Car and Truck of the Year awards for 2010

Detroit 2010: Ford sweeps North American Car and Truck of the Year awards for 2010 originally appeared on Autoblog on Mon, 11 Jan 2010 08:57:00 EST. Please see our terms for use of feeds.

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Who will succeed Mullaly at Ford? It's never too early to start handicapping

Chris Shunk — Thu, 26 Nov 2009 13:32:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

When Alan Mulally arrived at Ford Motor Company three years ago, the Blue Oval was in bad shape. New product wasn't exactly pouring in and the company's cash hoard was steadily shrinking. And word on the street is that the corporate culture at Ford was in as much trouble as the product lineup, making change difficult. Now in 2009, it appears Mulally has done the near impossible, turning around Ford's product lineup while supposedly positively altering FoMoCo's corporate culture.

For all of Mulally's success, there is one problem: he's 64 and can't continue to run the company forever. And although Mulally has given no signals of separating from Ford any time soon, industry insiders are already speculating on who will become his successor. The four names that continue to come up are Ford Americas President Mark Fields, global marketing boss Jim Farley, manufacturing whiz Joe Heinrich and Ford Europe savior Lewis Booth.

The Detroit Free Press feels the early money is on Fields. The Harvard grad has been with Ford for 20 years, and he's lead some high profile success stories. He turned around Mazda and is currently piloting Ford North America in the midst of what appears to be a substantial product renaissance. Farley has an advantage in that he came to Ford from Toyota/Lexus and is seen by many as a real up and comer.

By many accounts, Heinrich is a bit of a manufacturing genius. The Harvard Business grad came from General Motors, where he became the company's youngest ever Plant Manager at age 29. Booth has the longest resume and arguably the most examples of success. He appears to have consistently met and exceeded expectations everywhere he has been, including Mazda, Ford Asia Pacific and Ford South Africa. Booth is different from his fellow executives in that he is the only one who isn't in his 40s.

We have no earthly idea who would become the next head of Ford, and we're guessing that we're at least a couple years away from finding out. We're OK with that, because this Mulally guy appears to know what he's doing.

[Source: Detroit Free Press | Photo by Bill Pugliano/Getty]

Who will succeed Mullaly at Ford? It's never too early to start handicapping originally appeared on Autoblog on Thu, 26 Nov 2009 13:32:00 EST. Please see our terms for use of feeds.

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REPORT: Ford's Mark Fields implies company makes no money on hybrids

Jeremy Korzeniewski — Fri, 04 Sep 2009 15:00:00 EST

Filed under: Hybrid, Ford, Earnings/Financials, Electric, Diesel

2009 Ford Escape Hybrid - Click above for high-res image gallery

Last week, our friends from Consumer Reports got the chance to sit down with Mark Fields, Ford's vice president of North American operations, and some interesting information was gleaned. For instance, CR says Fields "implied the company isn't making money on the hybrids it sells today, and it is looking at ways to "enhance revenue" from them." Not surprising, really, but an interesting admission nonetheless.

There are a few ways Ford could try and recoup some of its hybrid powertrain R&D costs, most logically being to extend the technology across its line and into more expensive products - possibly from Lincoln, mimicking the strategy Toyota uses with its Lexus division. In addition to hybrid and electric cars, Fields says Ford is also interested in diesels but isn't currently planning to sell any oil burners in passenger cars. Instead, Ford's diesel efforts are likely to continue focused on pickups.

Speaking of which, Ford's light duty diesel engine for the F-150 is apparently still somewhat on the agenda. Earlier reports, says Fields, that said the program had been canceled aren't entirely accurate. Instead, the smaller diesel was merely "delayed," though we have no idea for how long.

Gallery: ABG Garage: 2009 Ford Escape Hybrid Limited

[Source: Consumer Reports]

REPORT: Ford's Mark Fields implies company makes no money on hybrids originally appeared on Autoblog on Fri, 04 Sep 2009 15:00:00 EST. Please see our terms for use of feeds.

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Detroit 2009: Little Bigtime - Concept C takes Lincoln in a brand-new direction

Chris Paukert — Mon, 12 Jan 2009 09:05:00 EST

Filed under: Concept Cars, Detroit Auto Show, Budget, Green, Technology, Hatchback, Ford, Lincoln

Click above for high-res image gallery of the Lincoln Concept C

Play the word association game with an average American, and when the topic is "Lincoln," you're likely to hear words like "traditional," "big," and "limousine." Terms describing compact hatchbacks like the Concept C shown above simply won't be on the tips of anyone's tongues. So what gives? Has Dearborn finally looped it? Take a closer look, and what at first seems like a designer pet project reveals a good deal more forethought and finesse.

Yes, the Concept C is small. Said to be underpinned by the next-generation Ford Focus platform, this is a C-segment car, much shorter than any current Lincoln, and indeed, much shorter than any Lincoln we can recall. But how about that width? Emphasized by its sizable fenders and the strong shoulder-line in the doors (said to be inspired by the saddle tanks on go karts), the Concept C may be as long as a Focus, but it's roughly as wide as a MKZ sedan. The extra width and the upright greenhouse (there's almost no tumblehome at all) mean that the C can accommodate two rows of three full-sized adults in surprising comfort. The bustle back shape reminds of a number of Gallic automobiles, including the previous Renault Megane, but rather amazingly, the formal roofline, twin wing grilles and full-width rear light bar that are Lincoln hallmarks don't look out of place. Click on the gallery below or follow the jump to read more about the Concept C and check out the official press releases.

Gallery: Detroit 2009: Lincoln C Concept Live

Gallery: Lincoln Concept C

Continue reading Detroit 2009: Little Bigtime - Concept C takes Lincoln in a brand-new direction

Detroit 2009: Little Bigtime - Concept C takes Lincoln in a brand-new direction originally appeared on Autoblog on Mon, 12 Jan 2009 09:05:00 EST. Please see our terms for use of feeds.

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Mulally's replacement could come from within Ford... or maybe not

Chris Shunk — Mon, 24 Mar 2008 11:01:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

Joe Laymon isn't on the short list of successors for Ford CEO Alan Mulally, and it's unlikely you've ever heard of him, but if you want to get to the top at the Blue Oval, this is the guy you stop by Starbucks for on the way to work. Laymon is in charge of keeping a list of internal candidates ready in the event Mulally retires (or quits, is fired or for some other reason exits his position), which could come as soon as 2011 when he turns 65.

Both President of the the Americas Mark Fields and new marketing chief Jim Farley are on the short list of six execs on which the company is keeping tabs, but some less familiar names are considered, as well. Europe boss Lewis Booth, CFO Don LeClair, Europe COO Stephen Odell, and manufacturing chief Joe Heinrich round out the list of internal CEO candidates that will be given to the Ford board in the event of a Mulally exit. The list isn't static, either, as names are reviewed and added or dropped each year. If the board doesn't like its choices, though, the list is completely worthless and the company will again look outside its hallowed halls for help, just like it did in Mulally's case.

[Source: Automotive News, subs. req'd]

Mulally's replacement could come from within Ford... or maybe not originally appeared on Autoblog on Mon, 24 Mar 2008 11:01:00 EST. Please see our terms for use of feeds.

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New York 2008: Mark Fields hails a Transit Connect Taxi Concept

Frank Filipponio — Wed, 19 Mar 2008 11:41:00 EST

Filed under: Concept Cars, New York Auto Show, Work, Crossover, Ford

Click above for a high-res gallery of the Ford Transit Connect Taxi

Where better than New York for Ford to show off a taxi cab? And what better platform than the company's new Transit Connect van? Ford's Mark Fields and designer J. Mays were on hand for the unveiling of the Transit Connect Taxi Concept, and both were somehow amazed at the applause the concept generated. Seeing as how there were only a handful of us there and that the rest of the crowd consisted of Ford employees, we find it hard to believe there wouldn't be applause aplenty. Seriously though, this is one fun cab. After spending some time in the regular fleet of bumblebee-colored Crown Vics this past week, we can attest that the Transit Connect Taxi has a lot of things that make it a natural improvement over current standard taxis. Our favorite was the panoramic roof that allows passengers to take in tall buildings with a single glance, but we also liked the flexible seating and cargo configurations, as well as the funky interactive infotainment system for the back seat. Although it looks a bit large in photos, the Transit Connect Taxi Concept actually has a small footprint vehicle and seems like it could go four-wide where the Vics can only manage three abreast. Check out the press release after the jump and all of our live high-res pics in the gallery.

Gallery: Ford transit Connect Taxi Concept

[Source: Ford]

Continue reading New York 2008: Mark Fields hails a Transit Connect Taxi Concept

New York 2008: Mark Fields hails a Transit Connect Taxi Concept originally appeared on Autoblog on Wed, 19 Mar 2008 11:41:00 EST. Please see our terms for use of feeds.

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Industry leaders predictions for '08; Lutz angrier than ever

Damon Lavrinc — Mon, 31 Dec 2007 17:02:00 EST

Filed under: Etc.

Between top X lists and hastily written end-of-the-year musings, the final day of 2007 is looking a lot like last year's run of retrospectives. Although some of the stories are different, many of the players have remained the same, so Tom Walsh from the Freep shot out a dozen emails to some of the leaders in his home state to get their predictions and hopes for the New Year.

The General's CEO, Rick Wagoner, echoes the sentiments of many in the auto industry, with hopes that the housing crisis is resolved post haste, while Ford's Mark Fields wishes that "we don't continually talk ourselves into a recession in 2008." Fields either wants to see or is predicting that "cars and crossovers will outsell trucks and SUVs for the first time in many years" and with gas prices holding steady at their current rates, that's a distinct possibility.

Both execs hope that comprehensive reform of the United States' energy policy takes effect, but the every quotable Bob Lutz takes the curmudgeon cake, saying, "Now that we have the 35 miles-per-gallon fuel economy mandate by 2020, I am hoping that in 2008 'Professor Doktor' David Friedman (research director, clean vehicles program, Union of Concerned Scientists) and his 'highly-qualified' band of allegedly concerned, self-proclaimed scientists will turn their energy toward showing the world's automotive industry exactly how those numbers, using existing technology and 'costs of a few hundred dollars at the most' can be attained with a vehicle selection that even remotely resembles the cars and trucks Americans want to buy today."

While on the cusp of another year, it's nice to know that some things will never change.

[Source: Detroit Free Press]

Industry leaders predictions for '08; Lutz angrier than ever originally appeared on Autoblog on Mon, 31 Dec 2007 17:02:00 EST. Please see our terms for use of feeds.

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Ford might increase cuts in slow economy

Damon Lavrinc — Tue, 18 Sep 2007 14:33:00 EST

Filed under: Plants/Manufacturing, Ford

Mark "the Mullet" Fields dropped some small ordinance during an interview with the Wall Street Journal today, saying that if the slow U.S. economy puts the automaker at risk of not meeting its financial goals for the next two years, it may increase the rate at which it will cut costs.

To quote Ford's executive veep of North and South American operations, "There's more risk than there is opportunity going forward." Fields maintains that the combination of the turmoil-ridden home mortgage market, weak job numbers and increased debt among U.S. borrowers might cause Ford to slow production down in the fourth quarter to avoid excess inventory, a problem that plagued Chrysler last year around this time.

The adjustments are a last resort, and according to Ford, it's currently on track to meet its goals as long as things stay stable. Nevertheless, you can bet Fields has his fingers crossed.

[Source: Wall Street Journal]

Ford might increase cuts in slow economy originally appeared on Autoblog on Tue, 18 Sep 2007 14:33:00 EST. Please see our terms for use of feeds.

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Mulally pockets $28 million in 2006

Frank Filipponio — Thu, 05 Apr 2007 15:02:00 EST

Filed under: Ford, Earnings/Financials

Reuters is reporting that while Ford Motor Co. posted a $12.7 billion loss last year, its new Chief Executive earned $28.18 million. And that was for four months worth of work. Alan Mulally's pay for 2006 included salary and stock options, as well as an $18.5 million bonus. The man Mulally replaced, Chairman Bill Ford, had made good on his pledge to forego compensation until the company made a turnaround, and had no salary, bonuses, or stock earnings during the first 8 months of 2006. In the grand scheme of things, $28 million is a drop in the bucket compared to the huge corporate losses Ford has posted, but hopefully Ford is getting what they are paying for with their new CEO. Only time will tell, as the automaker isn't expected to get back into the black until 2009 at the earliest.

In all fairness, Mulally's package included a $7.5 million signing bonus and Ford had to pay an additional $11 million to compensate for getting him out of his Boeing contract early. And in case some think Ford would be smart to dump him and take the company in a different direction, the EXIT package would be almost as big. If the CEO is released during his first five years on the job, his exit package is valued at $27.54 million. Mulally gets that amount if he is let go for anything other than cause. That includes being let go due to a merger or bankruptcy filing. To put it in perspective, Ford President of the Americas Mark Fields made $5.57 million last year. That included a salary of $1.25 million and something related to using a jet. And CFO Don Leclair had $4.4 million in total compensation for 2006.

[Source: Reuters]

Mulally pockets $28 million in 2006 originally appeared on Autoblog on Thu, 05 Apr 2007 15:02:00 EST. Please see our terms for use of feeds.

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Mark Fields to white-collar crew: "How do you feel?"

Frank Filipponio — Fri, 23 Mar 2007 12:33:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

If you are still here after seeing your friends and colleagues pink-slipped (or encouraged to take buyouts or early retirement), then we want to know how you're feeling. That was the basic message sent to Ford's white-collar workers today by Ford's President of the Americas Mark Fields. Top Ford managers received an email from Fields along with Ford's quarterly Employee Engagement Surveys. According to The Detroit Free Press (Freep), the e-mail also discussed Ford's new Way Forward portal online and changes to employee benefits, but it mainly dealt with the anonymous surveys. Fields apparently "strongly encouraged" managers to get workers to fill out the surveys by March 28.

Fields pointed out that the results will help Ford understand the views of employees on the issues covered, so management can better shape future plans and the company can "move forward as a team." Although 6,000 of its 48,000 salaried workers have left Ford since February, those who are still on the job might show a different attitude towards Ford's future.

[Source: Freep]

Mark Fields to white-collar crew: "How do you feel?" originally appeared on Autoblog on Fri, 23 Mar 2007 12:33:00 EST. Please see our terms for use of feeds.

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