The second-largest car maker in the U.S. – Ford Motor Co. appointed Mr. Mark Fields as a successor of the companys former Chief Executive Officer Mr. Alan Mulally. Now Mr. Mulally leaves the vehicle manufacturer in a considerably better condition than the one he inherited when taking the helm in 2006. The CEO position will be taken over by Mr. Fields on July 1st.
However, the situation for the newly-appointed Chief Executive Officer Fields will be tricky, because he will have to face his predecessor’s glory for saving the company from bankruptcy and is expected to lead the company into a new era of development.
The Executive Chairman of Ford Motor Co. – Mr. Bill Ford commented on Mr. Fields’ appointment in an interview, which was cited by Bloomberg: “There will be different realities. Some we can anticipate, like mobility and this notion of global gridlock, and how we’re going to solve that. Some we can’t anticipate. The best thing Mark can do is to continue to make us a very adaptable, nimble company.”
Under the lead of Mr. Mulally, Ford managed to buoy from the crisis and has not only swung to profit, but also expanded its reach. The new Chief Executive Officer is expected to retain the companys profitability in North America and reduce its losses in Europe.
In addition, Mr. Fields will have to pull the reins of Ford Motor Co. into the right direction of investments, considering the fact that the company is still in a process of building operations in China, Russia, India and a few other emerging markets. Another top priority for the car maker is releasing 23 new models globally by the end of 2014.
Mr. Mark Fields hinted that he intends to keep up with the strategy implemented by his predecessor and the policy of openness and collaboration, saying in an interview, which was cited by Bloomberg: “In the past when we’ve had new CEOs, you have a new strategy and a new card with new behaviours on it. We’re not going to slip back into old ways.”
Ford Motor Co. lost 1.49% to close at 15.91 dollars per share yesterday in New York, marking a one-year change of +18.91%. The car manufacturer is valued at $62.88 billion. According to CNN Money, the 16 analysts offering 12-month price forecasts for Ford Motor Co. have a median target of $18.50, with a high estimate of $22.00 and a low estimate of $12.00. The median estimate represents a +16.28% increase from the last price of $15.91.
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