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Company veterans promoted to set a course for the future of Ford

Ford on Wednesday named two company veterans to lead its auto and mobility businesses as the No. 2 U.S. automaker shifts its focus to autonomous vehicles and realigns its automobile portfolio. Joe Hinrichs was named president of Ford's automotive unit, and Jim Farley will be president, new businesses, technology and strategy, effective May 1. Both will report to Chief Executive Officer Jim Hackett. Hinrichs' goal will be a sustainable EBIT margin (earnings before interest and taxes) of at least 8 percent, Ford said. He'll have responsibility for all of Ford's global business units, and both the Ford and Lincoln brands. And he'll lead all of the automotive skills teams, from product development through customer experience. "Joe Hinrichs possesses the knowledge, experience and leadership to now take our Automotive business to world-class levels of product excellence, customer satisfaction, efficiency and financial performance," Hackett said. "As we enter a busy period for new product launches and further restructuring in underperforming markets, Joe's leadership in transforming businesses through focused execution will be key." Farley is charged with leading Ford's strategic transformation, in which it hopes to gain higher margins through smart/connected vehicles. He'll oversee corporate strategy, global data analytics, global partnerships, research and advanced engineering, including initiatives in smart mobility and autonomous vehicles. "Jim Farley's job is to drive us into the future, both strategically and operationally, from AVs to mobility experiences to leveraging AI and big data. Jim combines an innate feel for what customers want and need in vehicles and the ability to translate this into the vehicles and services of the future," Hackett said. Marcy Klevorn, president of Ford Mobility, plans to retire Oct. 1 after 36 years at Ford. Until then, she will report to Hackett in a strategic role. "I have asked Marcy to work with me and the senior team to accelerate our transformation," Hackett said. "Marcy's decades of experience working with many of the leading companies in the tech space as well as the work she has done with the transformation of Ford IT and the establishment of Ford Mobility gives her unique knowledge to drive these initiatives."

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.

How the Lincoln Continental Concept almost wasn't

That Lincoln Continental Concept that everyone is so excited about? It almost didn't happen. Speaking at the private reveal event for the concept yesterday, Ford Motor Company CEO Mark Fields revealed that when the design team started working on the vehicle that eventually became the Continental, the designers thought it was just another full-size luxury concept, and were turning in ideas to match. The problem, Fields said, is that this was an important vehicle to get right. "A full-size luxury sedan for a luxury brand is a very important marker that, I think, sets the beat for the brand and it creates a lot of awareness and favorability if you do it right," he said. "As we were designing this concept ... we reviewed with the designers the themes. The first couple of themes the team came with really didn't do it for us because we want to make sure that every vehicle that we bring out with Lincoln moves the brand forwards in a big way. So we went through the first couple of them and we really didn't get that kind of 'oomph' in the pit of our stomach." The team was stuck with an upcoming debut and nothing exciting to show for it, until the past was brought into the present. "In one of the design reviews, we were looking around at everyone and we mentioned, you know what, why don't we call this the Continental Concept? And I have to tell you, the body language was unbelievable in the design showroom. Everybody's head snapped up and you could see everybody's eyes widen and they started nodding and they said, 'now we get it.'" Aside from the Navigator, every vehicle Lincoln currently sells is simply named a trio of letters that start with M and K. Fields knew that the large luxury segment sedan is important for a company like Lincoln, with about 1.8 million units sold last year and an expected growth to around 2 million units by the end of the decade, he said. "When you think about where that growth is coming from, it's still a substantial segment here in the US, it's a very substantial segment and even more substantial segment in China. As a matter of fact, that segment grew by 17 percent last year and China is the largest market for full-size luxury sedans." Given the positive reaction to the Continental Concept thus far, bringing the name back from the dead might be just the thing Lincoln needed.