Join        Login             Stock Quote

Ford Motor (F): Mulally To Continue As President, CEO Through At Least 2014

 November 01, 2012 09:40 AM

(By Balachander) Ford Motor Co. (NYSE: F) said Alan Mulally is to remain as Ford president and chief executive through at least 2014.

The auto giant appointed Mark Fields as new chief operating officer, effective Dec. 1.

In addition, Ford made several other leadership announcements, also effective Dec. 1, while continuing to deliver the One Ford plan for profitable growth.

[Related -United States Steel Corporation (X): Small Insider Buy, Big Rewards?]

The company named Joe Hinrichs executive vice president and president of The Americas. It appointed Stephen Odell as executive vice president and president of Europe, Middle East and Africa.

Ford also named Jim Farley executive vice president of Global Marketing, Sales and Service and Lincoln.

The company named John Lawler as chairman and CEO of Ford Motor China. David Schoch is named group vice president and president of Asia Pacific.

"Today marks an important next step in the profitable growth of the Ford Motor Company and the appointment of key leaders who will help us continue to make progress on our One Ford plan," said Ford Executive Chairman Bill Ford.

Earlier this week, the company posted flat quarterly earnings, as wider pre-tax loss in Europe offset strong results at North America.

[Related -Tesla Motors Inc (TSLA): How Tesla Fares Against Upcoming Electric Cars]

Pre-tax earnings per share (EPS) increased 18 percent to 40 cents from 34 cents, versus consensus estimate of 30 cents. Net earnings were flat at $1.6 billion. Revenue fell 3 percent to $32.1 billion, while Wall Street analysts projected flat revenue.

For the third consecutive quarter, Ford North America pre-tax earnings exceeded $2 billion, and its operating margin exceeded 10 percent. Ford started North American business unit separately after 2000. Europe suffered a wider pre-tax loss of $468 million from $306 million last year on weak industry volumes and unfavorable dealer stock changes.

The stock, which has been trading in the 52-week range of $8.82 to $13.05, traded 0.90 percent higher at $11.26 on Thursday.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.