Jim Hackett Retiring October 1st; Jim Farley to Take Over as CEO

[wxsquid]

Ive always called it "promoted to outside advisor"

I’ve always said, “Invited to find other employment.”

Sponsored

 

[Maximillionaire]

It means the Board (aka stock holders) could see the biggest launch since the Mustang was getting fouled up

Apparently this Farley dude helped Toyota launch Scion brand back in the day —and he was being groomed to take over the CEO position

 

[MaverickMan]

I bought 100 shares a month or two ago to make sure I could get X-plan if available ??

Cost basis $5.94 a share not too shabby. Up 12% since purchase!

Lucky! Got mine at $6.34, didnt have the cash when it was in the $5 range. I got it setup to buy $50 more a month just as a kind of savings. I figure if it ever goes below $6 in the future we are all screwed anyways. ?

 

[vrtical]

I use to own it @1.90 but I bailed and really hasnt done much since.

 

[Wasatch]

Apparently this Farley dude helped Toyota launch Scion brand back in the day —and he was being groomed to take over the CEO position

I used to work for Toyota Corporat HQ

 

[Wasatch]

He should have never been hired. Crushed my stock since his first day of employment.

He wasn't a car guy. He could have been managing a pencil maker.

 

[eBronco]

Almost feels like Chris Farley is running this launch. Lol

Jim Farley is actually a COUSIN of the late Chris Farley.

 

[rmc523]

Can’t wait to read what The Autoextremist http://www.autoextremist.com/ has to say about this... should be brutal.

Pete does have some good insights, but he definitely has 3-4 subjects he rotates his harping on: Sergio Marchionne (can't anymore with him gone), GM marketing, Elon/Tesla, and his hatred for Farley. The reality is, Farley was apparently the guy that got rid of Pete D's advisor contract with Ford, and Pete's railed on him ever since.

 

[Wasatch]

Pete does have some good insights, but he definitely has 3-4 subjects he rotates his harping on: Sergio Marchionne (can't anymore with him gone), GM marketing, Elon/Tesla, and his hatred for Farley. The reality is, Farley was apparently the guy that got rid of Pete D's advisor contract with Ford, and Pete's railed on him ever since.

Difficult to have love for the guy or organization that wacked you. I know the feeling. But here is a true funny worth reading.

When I was pink slipped from an automaker I won't name (along with 32 other exec's) I went into the meeting expecting a promo! (By the way the separation agreements are really pink). I was in shock as it was just before Christmas. I hated that automaker anyway so they put me out of my misery and I moved on. But here is the good part that I know is fact.

At end of that fateful day the lawyer who put together all the legalize was sitting with the HR head and the new COO who called the shots on the wacks.

The Lawyer says .. well we are all done and that went pretty good as we got rid of the chaff. The COO says to the Lawyer (a real dick) there is one more package to do. The laywer says who did we forget?

The COO says "You". And fired him on the spot. I heard he had to move back home beacuse he could't find a job.

What's the saying about "eventually we all get our just reward". He got his. Hackett?

The Corporate car business is a very rough cut throat place to work, yet I spent several decades in it. As a PS FoMoCo was the best Co I ever worked for (even though they sometimes drove me nuts) and I also left on my own accord. Maybe I shoulda stayed lol.

 

[Toccoa]

Quick! Someone rename the Bronco Sport and Mustang Mach E while the coast is clear!

 

[Richtor]

Farley pushes Hinrichs out then takes over. Farley was hated at Toyota too.

 

[Methman]

I bought 100 shares a month or two ago to make sure I could get X-plan if available ??

Cost basis $5.94 a share not too shabby. Up 12% since purchase!

I did the same yesterday at $6.71... SEC might think we had insider info and investigate when it was just wanting the X-Plan...

 

[Bronc-O]

No.....these guys are just corporate zombies....the actual people that run the show...you will never see or hear from....

It may move the rudder a couple of degrees and the effects will show up in a few years.

 

[Bronc-O]

I would say it's more like they gave him the option you can either retire or get fired. Ford wasn't in exactly the best shape under his leadership

Ford is losing a lot of money, bad Explorer launch, Bronco maybe in danger of running off the rails. The people at the front take the heat for all of this stuff.

Sponsored