Continued Progress at Ford and Chrysler
Two American auto companies are in the news this week. If you followed my previous postings American Icon and Mondo Agnelli you’ll know that I comment on the Ford and Chrysler turnaround story’s as published in the two books mentioned above.
Now comes a new chapter in their story. The first from Ford who is positioning their top executives in a succession planning. The Ford board is not anxious to have CEO Alan Mulaly retire but they are making plans for his successor and it appears that Mark Fields who is President of the Americas looks like the likely choice. Here is a good story from Auto news that shows how successful succession planning can take place and provide continuity of management and strategy.
In the Chrysler case, Sergio Marchionne, CEO of Chrysler and Fiat, makes the announcements of more than a half-dozen new cars and Jeeps that will hit the Chrysler showrooms over the next two years, many built from parts borrowed from Fiat.
The Wall Street Journal reports:
Among the most important new vehicles is a midsize sedan, due in the first quarter of 2014, that would feature a nine-speed transmission and get 38 miles on a gallon of gasoline, the dealers said.
Mr. Marchionne and other executives also unveiled a new compact car, the Chrysler 100; a four-door subcompact called the Fiat 500L; a compact Jeep; and a replacement for the midsize Jeep Liberty, the name of which wasn’t specified. Chrysler also showed variations on current models, including special editions of the Chrysler 300 sedan and the Jeep Wrangler.
In both cases of Ford and Chrysler, continuity of management and their strategy is likely to keep producing good results for the company, employees and stockholders.