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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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Thanks for sharing, technically meant market value vs individual stock price in which Ford is like $11 and Tesla is $300...I also should have clarified I meant was the final nail in the coffin, because if Fords market value continued to climb and Tesla's didn't surpass Ford until the M3 ramp up I do not think he would have been fired...Unless a person with insider wants to talk, we'll never know if Tesla surpassing Ford, will have anything to do with the firing...
In the Jalopnik article, there was no mention of Tesla relative to Ford that I recall. Fields was compared with Mary Barra and her looking into the future. I have to think that the market cap has much to do with investors' feelings about Fields' direction with the company.

Personally, I found fields to be quite full of himself. Normally I'd overlook it if he was doing the job, but it looks like he wasn't.
 
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