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Ford CEO is replaced on grounds Ford falling behind on autonomous (electric) vehicles

2972 Views 15 Replies 11 Participants Last post by  Ladogaboy
Last Friday the Board of Ford Motors replaced Mark Fields, the CEO of Ford. The complaint seems to have been that Ford is falling behind on autonomous vehicles, which, because you need a lot of power for the autonomous electronics, also means electric vehicles. Fields was replaced by the previous head of autonomous vehicles, suggesting the putative reason for the dismissal was the actual reason.

Though very knowledgeable, Fields was out front in the effort to get the Trump Administration to roll back the CAFE standards, and he was not exactly a supporter of electric vehicles. So really not terribly forward thinking. (I simply don't understand why the car companies are so hot to alienate their future customers by blocking climate change mitigation measures. Seems insane.)

For electric vehicles this is probably a big win since not only will Ford be more focused on electrics, that focus and the shakeup at Ford may send a message to other companies.
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Stockholders are angry. Ford's stock price has dropped 40 % under Fields and the Ford family are big shareholders. Hackett made his name in office furniture and getting Jim Harbaugh to coach football at U Michigan. Meantime after 6 years of great sales everybody has a recent vehicle. Not much excitement in the market. Ford is laying off engineers. GM is closing unprofitable foreign operations and Chrysler can't find a buyer. Expect more of the same.
 
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