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Fields 'required' to use private aircraft, could make $5.25M as Ford CEO this year

Mark Fields' travels on the friendly skies will soon be a relatively personal affair, as the new CEO at Ford will be required to resume air travel via the company's private planes. Fields caught plenty of flak in 2007 for flying on the company's dime to visit his family in Florida. He's since flown commercial.
According to Ford spokesperson Susan Krusel, who spoke to Bloomberg, Fields (pictured above right, with Bill Ford, Jr. at center and Alan Mulally at left) will switch to private travel "for safety and to maximize his availability for company business." In addition to his new travel arrangements, the 53-year-old exec's salary and bonuses have been revealed.
Regulatory filings by Ford revealed that Fields, whose first day in the big chair was July 1, will receive a base salary this year of $1.25 million and he'll be eligible for $3.5 million in bonuses, both of which are lower than Alan Mulally's $2 million salary and $5.88 million in bonuses received last year. That's also lower than General Motors CEO Mary Barra's alleged $1.6-million salary and considerably less than Sergio Marchionne's $3.19-million fixed salary from Fiat. Despite falling short of other CEOs, Fields' new pay still represents a 33-percent increase over his pay as Chief Operating Officer.

2015 Ford Expedition

While the tide of bigger-is-better SUVs has been in recession since, well, the recession, fullsize utes are still very much with us. Conservative creatures that have been loathe to evolve, fullsize SUVs nonetheless remain enduringly popular among large families, livery customers, and anyone with lots of friends, relatives, and toys to tug around. With respect to Toyota and Nissan, the only players that really matter in the segment are the new-for-2015 Chevrolet Tahoe/Suburban, the GMC Yukon/Yukon XL, and this truck: the Ford Expedition, the latest evolution of which we just drove for the first time at a press preview in West Virginia.
Unlike the General Motors utilities, the standard Expedition and the long-wheelbase Expedition EL are not all-new, but rather are heavily refreshed versions of the same basic truck Ford started selling way back in 2007. The front fascia is where most of the exterior update happens for 2015, with a new three-bar grille design, halogen projector headlamps, and new bumper design with available LED foglamps. Despite all the new bits, the facelift breaks exactly zero ground in terms of design; in fact, it already looks dated, and will only look older once the macho 2015 F-150 bows later this year. Even less has changed out back, where the tailgate gets a wide chrome band spanning the taillamps and a new chrome exhaust tip. Other exterior changes are generally limited to colors and an all-new wheel lineup that includes a gleaming set of six-spoke 22-inch polished wheels on high-end models.
Speaking of high-end models, a new Platinum trim is positioned above the cowboy-spec King Ranch model for 2015. Both the Platinum and King Ranch get their own color combos and exterior trim finishes (satin metal for the Platinum, chrome everywhere and ginormous badges for the King Ranch) and posh, leather-lined interiors with their own aesthetic. The Expedition family also now includes a price-leading XL model, as well as XLT and Limited grades.

Ford CEO Jim Hackett reviewing the future of technology, Lincoln, overseas markets

By Paul Lienert and Joseph White Ford Chief Executive Jim Hackett is reviewing the automaker's operations in India and other markets, as well as Ford's future product programs including plans to build a self-driving commercial vehicle in 2021. Hackett, who took over as CEO in May, has told investors he is working on a 100-day review of Ford's operations but has so far provided few details of the process, except to indicate that it is looking at the automakers' luxury vehicle strategy, the future of its small vehicles and investments in emerging markets. Ford Chief Financial Officer Bob Shanks told Reuters in an interview that the review covers a range of issues, including Ford's strategy for India. "We have a lot of work to do (as) we address issues of how to fix India," Shanks said. "Everything is on the table." General Motors in May said it would stop selling cars in India but continue to produce vehicles there for export. Shanks said no decisions have been made and noted that Ford has a larger business in India than GM did. "We are very cognizant that will be the third-largest market in the world," he said. "Some big decisions will be made," Shanks said, but he cautioned Ford may not disclose all those decisions at the end of the 100-day review. Hackett is addressing challenges that have contributed to a nearly 8 percent decline in Ford's share price this year. The review of the Lincoln luxury brand includes whether current plans will meet former CEO Mark Fields' ambitious targets for growth and revenue, people familiar with the process said. Ford has set a target of putting a self-driving shuttle into commercial ride-sharing fleets by 2021. Hackett is reviewing the investment and timing for that project, the sources said. Hackett also assessing whether to reduce and consolidate production of models such as the Fiesta subcompact and two midsized sedans that are built in multiple locations around the world, but are experiencing slowing demand. One proposal would shift production of the next-generation Mondeo midsized sedan from Europe to Mexico, where it would share an assembly line with its sibling, the Ford Fusion, avoiding the cost of retooling two plants. Shortly after he took charge, Hackett approved a proposal to shift production of the next-generation Focus for North America from Mexico to China, saving the company an estimated $500 million by consolidating two factories into one.