Ford announces major changes in management
The second biggest automaker in the United States, Ford has announced a management shake-up with the aims of regaining the kind of sales they used to get and return to profitability from their loss making units. The company is struggling big time in their domestic market and the market share is being taken over by Japanese imports like Toyota, Honda, and Nissan.
Ford has to resort to selling their vehicles on employee prices to get their sales chart going on. They are suffering from big losses in their North American automotive operations. They have more problems in their hands with the massive vehicle recall they made last week, which is one of the biggest of its kind in the history of the company. It is also going to cost the company a lot of money.
Ford has named Mark Fields, 44, to serve as an executive vice president and president of the company’s Americas business. Mark is replacing Greg Smith, 54, who was named vice chairperson. Fordâ€™s Chief Executive Bill Ford said in a statement: “[Mark Fieldsâ€™s] next challenge is to lead The Americas automotive operations back to a sustained level of profitability while producing the best cars and trucks in the industry.â€
The company is trying to expand their operations in other country and is due to launch a brand new vehicle in the Indian branch, which is expected to bring Ford large sales and double their turnover. However, with the fuel prices touching sky high and the preference for hybrids growing, it might be tougher than just a management change to get back to their olden daysâ€¦