Ford's new CEO promises a fit — but fun — company
DEARBORN, Michigan (AP) — Ford's new CEO, Jim Hackett, revealed a little about his plans — and a lot about himself — when he talked to media after his appointment.
The company has to keep churning out vehicles and keeping them fresh in order to make the money it needs to invest in future modes of transportation, like self-driving cars.
Former CEO Mark Fields, who retired over the weekend, was criticized for letting popular vehicles like the Ford Escape get dated and for not bringing a subcompact SUV to the U.S. market more quickly.
Hackett is making clear that he will keep a close eye on the automotive business, which was responsible for 90 percent of Ford's $10.4 billion pretax profit last year.
The F-Series pickup and the Focus sedan are both among the world's best-selling vehicles.
Really, I had nothing to do with the previous decision in Mexico, but I think we made that decision not for political reasons but for business decisions, and they still are sound today.
Trump was critical of Ford throughout last year's campaign after the company announced it was building a $1.6 billion plant in Mexico to make small cars.
What he said: Over the years, what happens at big corporations is the bureaucracy and hierarchy probably overwhelms what could be faster decision making, clearer understanding, teams working collectively, but in addition, fun.
Bill Ford compared Hackett to former CEO Alan Mulally, another outsider who led Ford back to profitability between 2006 and 2014 and achieved hero status along the way.
Hackett, he says, "is loved by people because he leads from the positive as opposed to ego or threats."