April 30, 2013 |
Ford Motor Co. has been making automobiles for more than a century, but only now are the company's products on the brink of monumental changes, according to Executive Chairman Bill Ford Jr. “The car as we know it, and how it's used in people's lives, is going to change really dramatically and it's going to change fast,” said Ford. The great-grandson of the company's founder, Ford was in Los Angeles on Tuesday speaking at the annual Milken Global Conference about the future of his company and the transportation industry.
March 15, 2013 |
Ford Motor Co. paid Chief Executive Alan Mulally $21 million last year, down from $29.5 million in the previous year because the company didn't meet all of its financial goals. Most companies don't like to talk about what they pay their top executives, but Ford annually issues a news release detailing the compensation of its management team. Mulally earned $2 million in salary and an additional $4 million in a cash bonus in 2012. His total compensation includes the grant date value of long-term stock options and other performance-based equity awards.
May 23, 2012 |
Moody's Investors Service raised the credit rating of Ford Motor Co. to an investment grade, giving its seal of approval to a corporate turnaround of the business that started with heavy borrowing at the end of 2006. The move Tuesday returns control of the automaker's famous "Blue Oval" logo back to Ford. The logo, with the Ford name written in distinctive script, was first seen on a Model A in 1928 and was pledged as collateral to obtain the loans. Moody's raised its assessment of the creditworthiness of Ford's automotive operations to Baa3, up from Ba2. Ford Motor Credit Co., the automaker's finance arm, now has a rating of Baa3, up from Ba1. The investment rating is an important measure of corporate health and will reduce the automaker's borrowing expenses.
April 15, 2012 |
Some people underestimate Alan Mulally when they first meet him. Ford Motor Co.'s 66-year-old chief executive, who grew up in Kansas and once aspired to be an astronaut, looks and sometimes acts like an overgrown Boy Scout. He laces his speech with words such as "neat," "cool" and "absolutely. " But the farm-boy exterior conceals one of business' toughest, most ruthless managers. When a desperate Bill Ford recruited Mulally from Boeing in 2006, Ford was heading for a $12.7-billion loss and on the verge of losing its No. 2 sales spot in the U.S. to Toyota because of poor management and an uninspiring vehicle lineup.
March 30, 2012 |
Ford Motor Co. has made what it pays its top executives about as transparent as any company in America. While many public companies hide their executive compensation data in the fine print of regulatory filings, Ford simply put out a news release that outlined what the bosses were making in fairly simple terms. It also filed the information with the Securities and Exchange Commission. CEO Alan Mulally, the former Boeing executive credited with helping Ford avoid the bankruptcy reorganizations and federal bailouts that sustained General Motors and Chrysler during the recession, earned $29.5 million in total compensation last year.
February 9, 2012 |
Ford Motor Co. announced on Thursday a series of senior management changes but gave no hint to who might succeed Alan Mulally as the automaker's next chief executive. Lewis Booth, executive vice president and chief financial officer, and Derrick Kuzak, group vice president, Global Product Development, have elected to retire effective April 1. Each has served the automaker for more than 30 years and at times have been mentioned as possible successors to Mulally. Booth, 63, will be succeeded by Bob Shanks, who is currently vice president and controller. Kuzak, 60, will be succeeded by Raj Nair, who is currently vice president of engineering, global product development.