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Ford CEO Farley Must Be Fired – Darlinez News.

<p> &lbrack;ad&lowbar;1&rsqb;<br &sol;>&NewLine;<&sol;p>&NewLine;<div>&NewLine;<div class&equals;"entry-content column content primary is-two-thirds">&NewLine;<div class&equals;"" style&equals;"padding-bottom&colon; 10px&semi;">&NewLine;<div class&equals;"">&NewLine;<p>&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<span class&equals;"tag is-dark is-uppercase">Autos<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;p>&NewLine;<div class&equals;"byline-container">&NewLine;<div class&equals;"post-date is-italic has-text-grey is-size-7 has-text-weight-medium ">&NewLine;<p>February 16&comma; 2023 9&colon;30 am<&sol;p>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<p>It is the last straw&period; Ford Motor Co&period; &lpar;NYSE&colon; F&rpar; announced it would stop production of its electric vehicle &lpar;EV&rpar; flagship&comma; the F-150 Lightning&period; The launch has been viewed as the key to Ford’s future&period; Executive Chair Bill Ford said it is the most important product launch in his tenure at Ford&period; He even commented that Lightning was the most critical product introduction since the Model T about a century ago&period; CEO Jim Farley has bungled it&period; Bill Ford has to fire him to make clear such a critical event has been badly bungled&period; Ford then has to find a CEO who can execute at a level that will regain the confidence of consumers&comma; investors and employees&period;<&sol;p>&NewLine;<p>Ford had forecast that it would produce 200&comma;000 Lightning units this year to satisfy demand&period; The Financial Times described the production interruption as one that could last for weeks&period; &OpenCurlyDoubleQuote;By the end of next week&comma; we expect to conclude our investigation and apply what we learn to the truck’s battery production process&semi; this could take a few weeks&comma;” a Ford spokesperson commented&period; &lpar;Click here for the 25 biggest product flops of the past 10 years&period;&rpar;<&sol;p>&NewLine;<p>The catastrophe was not the first on Farley’s watch&period; In the third quarter of last year&comma; Ford’s expenses were &dollar;1 billion higher than expected&period; Ford mispriced the Lightning and the Mustang Mach-E&period; The Mach-E is another critical model for the company’s EV future&period; Ford unexpectedly raised prices on both&period;<&sol;p>&NewLine;<p>Farley has admitted that Ford has far too many engineers&period; It is a wonder he has not solved that problem&period; Farley’s biggest mistake was to say Ford’s quality problems would take years to fix&period; Ford is among the world’s largest and oldest manufacturers&period; The fact that the issue will not be resolved sooner is staggering&period;<&sol;p>&NewLine;<p>Ford’s fourth-quarter results and the poor forecast for this year proved that the company’s near-term future will be difficult&period;<&sol;p>&NewLine;<p>Ford’s Lightning had several advantages as it entered the market&period; The gas-powered version of the F-150 has been the best-selling vehicle in America for four decades&period; There must be at least 6 million of them on the road today&period; The owners of these are a perfect target for the electric version of the pickup&period;<&sol;p>&NewLine;<section id&equals;"email-subscribe" class&equals;"section section-email-sub single-email-sub"><&excl;-- div&period;svg-icon --><&sol;p>&NewLine;<div class&equals;"container">&NewLine;<div class&equals;"subscribe-message" style&equals;"line-height&colon; 1&period;3&semi;">&NewLine;<p>Get Our Free Investment Newsletter<&sol;p>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;section>&NewLine;<p>Ford also came to market with its electric pickup ahead of Tesla&comma; Chevy and Ram&period; These advantages cannot be overstated&comma; mainly because of the huge sales of the Chevy Silverado and Ram&period; Ford’s lead is shrinking&period;<&sol;p>&NewLine;<p>Bill Ford has shown a willingness to fire CEOs before&period; Mark Fields and James Hackett had short tenures&period; The last Ford CEO with a strong track record was Alan Mulally&comma; who held the job from 2006 to 2014&period; Bill Ford’s judgment since then has been abysmal&period; Farley’s tenure has been humiliating for Ford’s executive board chair&period;<&sol;p>&NewLine;<p>Bill Ford has no choice&period; Farley must go&period;<&sol;p>&NewLine;<p>Ford has been hit by one more humiliating event&comma; which shows how badly the company has done recently and that this long line of incidents has not ended&period; Farley has become Ford’s number one liability&period;<&sol;p>&NewLine;<p>&Tab;&Tab;&Tab;&Tab;<&excl;-- &num;post-footer--><&sol;p><&sol;div>&NewLine;

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