Ford CEO Hackett reviewing future products

NEW YORK: Ford Motor Co Chief Executive Jim Hackett is reviewing the automaker’s operations in India and other markets, as well as Ford’s future product programmes including plans to build a self-driving commercial vehicle in 2021, according to company officials and other sources familiar with that review.

Hackett, who took over as CEO in May, has told investors he is working on a 100day review of Ford’s operations but has so far provided few details of the process, except to indicate that it is looking at the automakers’ luxury vehicle strategy, the future of its small vehicles and investments in emerging markets.

Ford Chief Financial Officer Bob Shanks said in an interview that the review covers a range of issues, including Ford’s strategy for India. “We have a lot of work to do (as) we address issues of how to fix India,” Shanks said. “Everything is on the table.”

General Motors Co in May said it would stop selling cars in India but continue to produce vehicles there for export. Shanks said no decisions have been made and noted that Ford has a larger business in India than GM did. “We are very cognisant that will be the third-largest market in the world,” he said.

“Some big decisions will be made,” Shanks said, but he cautioned Ford may not disclose all those decisions at the end of the 100-day review.

Hackett is addressing challenges that have contributed to a nearly 8 per cent decline in Ford’s share price this year. — Reuters