Ford shakes leadership and restructures after $1 billion supply chain hit

Ford (F) announced on Thursday that it is reshuffling senior positions and restructuring its product development and supply chain units, days after announcing $1 billion in unexpected supplier costs.

John Lawler, Ford’s chief financial officer, will lead the transformation of the supply chain until a full-time chief supply chain officer is appointed. Supply chain troubles caused Ford’s stock to experience its biggest single-day drop in 11 years.

Ford also expanded the role of EV leader Doug Field, appointing him chief advanced product development and technology officer. Field was hired a year ago to lead Ford’s electric vehicle program, which he will continue to oversee along with software and digital systems development and advanced driver assistance. He will also lead design and vehicle hardware engineering.

Ford also appointed Lisa Drake as vice president of EV industrialization with responsibility for manufacturing engineering. Drake’s appointment comes at a time when the company plans to increase EV capacity to 2 million units per year by the end of 2026.

Chuck Gray, who was previously vice president of EV technology, has been named vice president of vehicle hardware development.

Both Drake and Gray will report to Field, along with Anthony Lo, the company’s chief design officer.

Ford has also restructured its global supply chain management for “more efficient and reliable component sourcing”.

Hau Thai-Tang, Chief Industrial Platform Officer, will retire on October 1 after more than 34 years with Ford. Dave Filipe, vice president, vehicle hardware modules, will also retire on December 1 after 30 years with the automaker.

As of 1:01 p.m. ET Thursday, Ford shares were trading at $12.98, down 7 cents, or 0.54%.

Related Articles

https://www.ibtimes.com.au/ford-shakes-leadership-restructures-after-1b-supply-chain-hit-1838659?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Ford shakes leadership and restructures after $1 billion supply chain hit

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button