Gather the thoughts about “Ford fields a New Driver”
After losing 40% of its stock value in three years, Ford is revving up for a change – and a quick one at that.
Chairman Bill Ford officially announced Monday that Jim Hackett is replacing Mark Fields as CEO.
Ford can’t fund the future without sustaining the past. Fields had the youth and energy to propel the company forward, but he couldn’t devote himself entirely to talk of Ford’s self-disruption.
Fields had an increasingly impossible job, but he never actually looked like he was breaking a sweat. He didn’t really fail; rather, he simply had to run a 100-year-p;d-plus company while the markets fixated on new players who promised to be the Fords of the 21st century.
It was a delicate balancing act that Fields looked to be managing effectively until recently when issues around the lagging stock price came to a head at Ford’s annual shareholder’s meeting.
It’s all street versus Detroit, and with Mark Fields out at Ford, Wall Street is winning.