Seeking Alpha

Bloomberg resurrects speculation that Ford (F) is preparing to promote VP of the Americas, Mark...

Bloomberg resurrects speculation that Ford (F) is preparing to promote VP of the Americas, Mark Fields, to COO as part of a plan for him to replace Alan Mulally as CEO. Ford's board discussed the succession plan at a meeting yesterday but made no decision. Mulally, 67, hasn't said when he'll retire, although he's expected to leave at the end of 2013.
Comments (2)
  • Tdot
    , contributor
    Comments (4903) | Send Message
     
    " he's expected to leave at the end of 2013" ... ?

     

    Really? By who? Michael Bloomberg? What - is that Fool on Ford's Board of Directors now?

     

    Leave it to the overblown Media to try to jump start old rumors and speculation, stirring up the pot to see what inadvertently floats up to the surface.

     

    Of course, The Media are making hay and producing the hype over Ford's routine Board meetings, attempting to get a scoop of what might be said. They basically have nothing better to do at the moment, and speculation sells papers and advertising. The Board is under no obligation to reveal anything discussed, beyond the dividend.

     

    Meanwhile Alan has said, repeatedly, that he is in no hurry to go anywhere, and the Board, and in particular Bill Ford, are in no hurry to let him go. There is plenty of work to be done, and the management team is doing it. Other automotive executives have stuck around well into their 70s and even their 80s. Why should Ford's be any different? There is no mandatory retirement age, and Alan has a lot of life in him. The Board of Directors will decide, and quickly, if Alzheimers or senility has taken the man in his dotage, or if he is otherwise incapable of executing his assigned tasks. And Alan is free to retire if and when he feels like he is ready to go. Period.
    12 Oct 2012, 08:36 AM Reply Like
  • EdwinJ44
    , contributor
    Comments (61) | Send Message
     
    I agree with everything you wrote. (So much that I gave you your first 'Like' on your comments.) Bloomberg resurrects "speculation"? Speculation is all that it's about! Getting paid to write something and don't have anything to write about so he writes about "speculation".
    12 Oct 2012, 12:52 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs