Why was Ford CEO Mark Fields fired – err, retired? image

The automotive industry suffered a massive twist of events this week when Ford’s president and CEO Mark Fields officially retired after just three years into his mandate, being replaced with a rather unknown manager – Jim Hackett.

Fields technically retired – but we all know he was actually fired – after just three years into his mandate and following a very successful 28-year career in the automaker’s team. Most were caught off guard, but now specialists say this should not be treated as a surprise – Fields was successful in renewing the automaker’s lineup, including heralding the aluminum approach for the F-Series, but there were other, major problems. One of the biggest examples is the incredible, close to 40 percent drop in company share value from 2014, while analysts also pointed on occasions towards the lack of apparent clarity towards the brand’s future strategy.

“Should we sharpen our message? Absolutely,” commented Bill Ford, Executive Chairman, during Ford’s press conference. “To be able to sharpen your message, you need to have clarity of strategy and a clear sense of alignment behind that message.” Fields successor, a man that helped other companies from different fields to rise to fame and fortune, is viewed now as a “cultural change agent,” who can bring back what Alan Mullaly – also an outsider – viewed as measures to change the “toxic corporate culture.” “We want people to come to work thinking they can have a great day here,” Hackett declared. “There’s pockets of this that exist, but we’re going to make it more emphatic.” Ford is also going to refocus on the “One Ford” strategy – something that was left behind with Fields.

Via Automotive News