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Ovaltine

Former Amazon, SnapChat exec to succeed retiring Ford CFO

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I don't know anything about the new guy - but this Crains article points out that his primary experience is with the finances of Amazon and SnapChat  -  both of which obviously are not even remotely automotive-related.

https://www.crainsdetroit.com/people/former-amazon-snap-exec-succeed-retiring-ford-cfo 

EXCERPT:

""We're so excited to have Tim join Ford at this incredible time for our company as we strive to become the world's most trusted company, designing smart vehicles for a smart world," Hackett said in the release. "He was a key player in the incredible success at Amazon and he understands the principles of fitness and growth as complementary virtues for Ford's future."

 

What does everyone think of this move???

Edited by Ovaltine

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"Worlds most trusted company" is a new one. When did FOMOCO start using this slogan or start striving to be this?

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53 minutes ago, Ovaltine said:

I don't know anything about the new guy - but this Crains article points out that his primary experience is with the finances of Amazon and SnapChat  -  both of which obviously are not even remotely automotive-related.

They said the same thing about Alan....

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I actually like the fact that Ford is bringing in outsiders with little or know automotive experience.  It brings a fresh set of minds who should be able to think outside the box.  Ford's problems for years have been that they continue to revert back to their old ways.  Hopefully the new blood can avoid that.

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6 hours ago, fordmantpw said:

I actually like the fact that Ford is bringing in outsiders with little or know automotive experience.  It brings a fresh set of minds who should be able to think outside the box.  Ford's problems for years have been that they continue to revert back to their old ways.  Hopefully the new blood can avoid that.

I think that is Mr. Hackett's strategy.

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9 hours ago, fordmantpw said:

I actually like the fact that Ford is bringing in outsiders with little or know automotive experience.  It brings a fresh set of minds who should be able to think outside the box.  Ford's problems for years have been that they continue to revert back to their old ways.  Hopefully the new blood can avoid that.

Agree-within reason.  My fear is that Hackett will stack the deck with like minded Silicon Valley cronies.  We thought big Al had righted the ship but apparently he did not-for sure as Fields was his choice right?  

Then again, perhaps Fields had the deck stacked against him as the old network refused to change their ways once Al was gone.

Opinions?

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20 minutes ago, Bob Rosadini said:

Then again, perhaps Fields had the deck stacked against him as the old network refused to change their ways once Al was gone.

I agree with this, although, Fields may have been part of the 'old network'.

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16 minutes ago, fordmantpw said:

I agree with this, although, Fields may have been part of the 'old network'.

I think he definitely was and when Mulally left he went right back to the old ways.

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1 hour ago, Bob Rosadini said:

........My fear is that Hackett will stack the deck with like minded Silicon Valley cronies...... 

The Board of Directors has the final say when hiring a CFO.

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12 hours ago, mackinaw said:

The Board of Directors has the final say when hiring a CFO.

I'm sure but after almost two years at the helm they seem to be giving him a lost of slack.  And again, not saying a new perspective is not in order, just hope it doesn't go overboard.  Big Al was an engineer who grasped the issues a large complex manufacturing entity faces.  Hackett and this new CFO, not so sure.

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9 minutes ago, Bob Rosadini said:

 Big Al was an engineer who grasped the issues a large complex manufacturing entity faces. 

...and he was still questioned over his ability to lead Ford. 

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I'll always think that Fields' greatest issue was that he couldn't "take the room" with leadership charisma.  He wasn't admired, respected, and/or feared enough to keep the old bad habits from returning.

He may or may not have had the political clout within the company to do much, either...but I'm well aware the my viewpoint is basically up in the nosebleed section.  I don't have any real insider information.

The new financial guy may be a boon or a curse...but what's unchanging is that the next few years of Ford's future are at least as important as those heading into last decade's recession.  The new products need to be pretty amazing, and to set precedent for a genuinely strong step into a very nebulous future.

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3 hours ago, ZanatWork said:

I'll always think that Fields' greatest issue was that he couldn't "take the room" with leadership charisma.  He wasn't admired, respected, and/or feared enough to keep the old bad habits from returning.

He may or may not have had the political clout within the company to do much, either...but I'm well aware the my viewpoint is basically up in the nosebleed section.  I don't have any real insider information.

The new financial guy may be a boon or a curse...but what's unchanging is that the next few years of Ford's future are at least as important as those heading into last decade's recession.  The new products need to be pretty amazing, and to set precedent for a genuinely strong step into a very nebulous future.

You might be right. He certainly was not a terrible executive, especially if you study his tenure at Mazda.

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2 hours ago, The Handler said:

You might be right. He certainly was not a terrible executive, especially if you study his tenure at Mazda.

He was terrible in that he stopped new product development to hoard cash.

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8 hours ago, twintornados said:

...and he was still questioned over his ability to lead Ford. 

Correct he was-like at one of the very first I assume "all hands" meetings of senior people someone actually  asked him ..."if he was aware of the complexities of the auto manufacturing process"?-or words to that effect.  His answer was yes and he asked the individual if he was aware that there were like 4+ million parts in a Boeing 7xx!

Back to Fields, another question-he was the chosen insider.  Farley and Hinrichs were also in the running were they not?  Hope they were team players going forward.  And Farley was hired as the most capable car marketing guy in the world.  That at least is what I took from "American Icon".

Guess not huh?  Or did Fields block his efforts?  And if he did, was Bill Ford totally hands off once Al left?

Mr Hoffman, time for another book😎

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22 hours ago, Bob Rosadini said:

Correct he was-like at one of the very first I assume "all hands" meetings of senior people someone actually  asked him ..."if he was aware of the complexities of the auto manufacturing process"?-or words to that effect.  His answer was yes and he asked the individual if he was aware that there were like 4+ million parts in a Boeing 7xx!

Back to Fields, another question-he was the chosen insider.  Farley and Hinrichs were also in the running were they not?  Hope they were team players going forward.  And Farley was hired as the most capable car marketing guy in the world.  That at least is what I took from "American Icon".

Guess not huh?  Or did Fields block his efforts?  And if he did, was Bill Ford totally hands off once Al left?

Mr Hoffman, time for another book😎

I think Farley's issue was him being younger and an outsider in the company...we will see how it plays out over the next 10 years. 

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13 hours ago, silvrsvt said:

I think Farley's issue was him being younger and an outsider in the company...we will see how it plays out over the next 10 years. 

...and that he came from Toyota. One of his first actions at Ford was renaming the Twinforce technology to what we all have come to know and love as Ecoboost.

Edited by twintornados

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