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Monday, September 26, 2022

Ford shakes up leadership to shore up supply chain (NYSE:F)

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Ford Motor Company (NYSE:F) is making a number of personnel moves to adapt its supply chain management on Thursday after being hit with an unexpected $1B surge in supplier costs.

The Michigan-based automaker explained that a few major leadership changes will “transform the company’s global supply chain management” and support EV aims. CFO John Lawler is expected to “oversee a makeover of Ford’s global supply chain operations on an interim basis” while the company conducts a search for a chief global supply chain officer. Jonathan Jennings, vice president of supply chain is expected to assist and report to Lawler.

Elsewhere, Ford Blue vice president Jim Baumbick was assigned expanded responsibilities in terms of overseeing the development of all Ford Blue products, as well as lead cycle planning, vehicle development engineering, and product development operations for the entire company. He is slated to partner with Doug Field, who was named chief advanced product development and technology officer to oversee EVs, software, and ADAS among other software initiatives.

Meanwhile, Lisa Drake was assigned responsibility for manufacturing engineering “as Ford scales to a run rate of 2M EVs per year by the end of 2026.” Finally, vice president of EV technology Chuck Gray was named vice president of vehicle hardware engineering. Both Drake and Gray report to Field.

“As we enter an intense period of execution for Ford Model e and our $50B investment in breakthrough electric and digital vehicles, Doug, Lisa and Chuck are taking on larger roles and building out very capable teams,” CEO Jim Farley said. “Developing and scaling the next generation of electric and software-defined vehicles requires a different focus and mix of talent from the accomplished Ford team and many exciting new colleagues joining our company.”

He added that a number of new hires bring “Silicon Valley credentials” to the automaker, highlighting a greater tech focus. Namely, Roz Ho was appointed chief connected vehicle software officer, joining after lengthy stints at HP Inc. and Microsoft. Farley highlighted the fact that Ho will join a host of executives in driver technologies and software that joined Ford from firms like Amazon, Google, Apple, Aptiv, and more.

Ford (F) shares fell 0.77% in the latter half of Thursday’s trading session.

Read more on Ford’s (F) supplier warning’s sector-wide impact.


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