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John S. Gray was a Detroit banker who was the first president of the Ford Motor Company in 1903.
The company started off well under Gray's guidance, with dividends paid to investors on a regular basis.
Internal power struggles soon erupted.
Gray and Henry Ford were pitted up against Alexander Malcomson.
By 1906 Malcomson was pushed out and was forced to sell his shares to Ford.
Having invested heavily with the purchase of 105 shares for $10,500 in 1903, Gray unfortunately did not live to see the further growth of the enterprise he helped establish, passing away unexpectedly that same year.
Henry Ford co-founded the Ford Motor Company in 1903.
He was a maverick in automotive history in his time.
As Ford's second CEO, he invented the assembly line and mass production techniques.
These innovations allowed Ford to reduce production time and costs.
He helped launch the Model T in 1908, which put cars within reach of middle-class Americans.
By 1918, half of all cars in America were Model Ts.
Ford had new plants built around the country and abroad.
Annual production soared from a few thousand cars in 1903 to over 1 million by 1920.
However, Ford was an autocratic and temperamental leader who resisted labor unions and often made controversial decisions based on principle.
This would eventually lead to his downfall.
Conflict with stockholders forced Ford to resign as CEO in 1919.
Henry Ford’s son, Edsel Ford took over as CEO in 1919.
While Henry was the pioneering visionary, Edsel provided a much-needed complement of administrative discipline and restraint.
As president during the 1920s, Edsel steered Ford through a period of unprecedented profitability and growth.
He insisted on limiting production to meet demand, allowing prices to rise after the heavily discounted Model T. Under his push toward product diversification, Ford expanded into other industries like aircraft and plastics.
The Depression years proved more difficult, with sales plummeting industry-wide.
Edsel advocated lowering prices to boost sales, which led to clashes with his father over company direction. But he still supported his father against stockholder lawsuits during this contentious time.
As Ford headed towards WWII, Edsel increased production capacity to help with the war effort.
Edsel then died of cancer in 1943 at the age of 49.
Henry Ford II, the grandson of Henry Ford, took over the company in 1945.
When he took over the company was on the brink of bankruptcy.
It was losing $9 million a month!
To turn things around, Ford II brought in management and finance experts dubbed the "Whiz Kids."
With their help, he restructured finances and eliminated inefficiencies.
He was also able to get some bank loans that put the company back in solvency.
As chairman in the postwar era, Ford modernized production with new models and expanded global operations extensively to meet booming consumer demand.
He led the company through both immense successes, like the legendary Mustang and Thunderbird, as well as some failures like the Edsel model line.
Ford II is credited with saving and rebuilding the company.
Philip Caldwell succeeded Henry Ford II as CEO in 1978, during hard times for the company.
There was quality stuff to deal with and competition from abroad was nipping out their heels.
Caldwell was the first non-Ford family member to hold the CEO title.
He invested in improving manufacturing efficiency and vehicle quality.
Caldwell successfully reduced defects and warranty costs. He also oversaw development of more fuel-efficient models needed for the energy crises of the 1970s.
Recognizing increasing globalization, Caldwell acquired worldwide subsidiaries to streamline Ford's international operations under unified management titled Ford Europe and Ford Asia-Pacific.
However, some of Caldwell's ambitious redesign and cost-cutting plans led to significant job losses, straining relations with the auto workers' union.
Donald Petersen became CEO in 1985.
Petersen accelerated the momentum with his background in product development.
He focused intently on improving quality and fuel efficiency across Ford's product lines.
Under his direction, Ford introduced new card models like Ford Taurus, Mercury Sable and Lincoln Continental.
Petersen also invested in emerging technologies—like electronics, communications and aerospace.
This expanded Ford's capabilities but also contributed to heavy losses which drew criticism from investors and the board of directors.
As the economy weakened entering 1990, Ford's profits declined sharply and Petersen soon retired as CEO.
Though his ambitious technology investments didn't fully pay off, Petersen presided over a resurgence in efficiency and design that restored Ford's status as an industry leader during his 5 year term.
Harold "Red" Poling took over during a recession in 1990.
Sales were down and losses mounted.
Poling had to take to cut costs, close plants and force workforce reductions.
There was a lot of friction between him and the unions.
Poling placed greater emphasis on product quality, particularly through supplier partnerships to improve manufacturing processes.
He also accelerated global expansion, acquiring operations in India while making Ford the top-selling automotive brand in Europe.
However, Ford lagged behind key competitors in introducing compelling new vehicle models during Poling's tenure.
He also struggled to reduce the bureaucracy that many felt stifled innovation within the company.
As sales and profits dropped off sharply in 1992 and 1993, Poling retired under pressure and was succeeded by Alex Trotman in 1993 after just 3 years leading the company.
Alex Trotman was tapped as CEO in 1993, inheriting a company deep in crisis.
He had to deal with $7 billion in losses over 3 years.
As an Englishman, he was able to bring an outsiders perspective.
Trotman sold off non-essential brands and tightly focused operations around core automobile business. He entered partnerships for shared vehicle platforms, allowing Ford to develop new models faster and more economically.
Under Trotman, Ford introduced innovative vehicles like the oval-shaped Taurus and sporty new Mustang.
He also accelerated Ford's global mindset through international expansion into Asia, South America and Africa.
Though his sweeping changes restored profitability and revived Ford's product lineup, Trotman hit Ford's mandatory retirement age of 65 in 1998.
He is credited with overseeing the difficult restructuring during the 1990s that provided Ford strategic clarity and financial stability entering the 21st century.
Jacques Nasser took the reins as CEO in 1999, led by a vision of transforming Ford into a consumer products and services juggernaut.
The company invested billions in technology startups and ambitious acquisitions beyond Ford's core auto business.
However, the rapid growth overwhelmed management, led to quality declines.
A scandal over the Explorer SUV erupted in 2000.
This is based on rollover accidents involving Firestone tires.
Ford’s stock prices plummeted.
Nasser came under fire for going beyond Ford's core competencies in manufacturing and design innovation.
These failures gave him no choice but to resign in 2001.
Nasser left Ford a globalized organization but one struggling to integrate the rapid changes they underwent during his brief but transformative tenure.
His successor Bill Ford Jr. aimed to help the company refocus on its roots in the automobile industry.
As the great-grandson of founder Henry Ford, Bill Ford Jr. was put in charge in 2001.
He was tasked with restoring Ford's reputation.
Ford sold off subsidiaries to pay down debt.
He entered partnerships with Mazda and Toyota to learn from the leaders in lean manufacturing.
Cost-cutting and restructuring endeavors aimed to match the efficiency of foreign automakers.
Under Ford Jr's direction, Ford maximized strengths in trucks and SUVs in the North American market while globally reorganizing regional operations to be more responsive to local markets.
He also accelerated development of hybrid models like the Escape SUV.
By 2006, Ford still struggled with declining sales.
Alan Mulally left Boeing to join Ford in 2006.
He inherited a mess of billions in losses, Mulally had to secure financing fast to restructure the company.
He invested heavily in fuel-efficient models and sold off luxury brands like Jaguar and LandRover.
Mulally also tasked his engineers with the development of hybrids and EVs.
By leveraging global platforms and streamlining operations, Mulally achieved major gains in productivity and efficiency.
Despite skepticism, Mulally helped Ford avoid bankruptcy and government bailouts during the 2008-2009 financial crisis.
Solid new products like the Focus and Fusion helped improve perception while the popular F-150 truck supported profitability. By 2014, Ford had achieved record profits with an impressive turnaround.
With his relentless optimism and focus on innovation, Mulally steered Ford from struggling legacy automaker back to industry leader.
Mark Fields was made CEO of Ford Motor Company in 2014 with high hopes of continued renaissance.
Under his leadership there were record North American profits, more collaboration within teams, and investments in electrification.
He also started investing in self-driving technology.
However, Fields struggled to maintain this momentum as Ford's market performance started to plummet.
He had to deal with declining share prices and an inability to innovate with newer tech.
In 2017 Fields' was pushed out as CEO, as there were doubts from leadership that he would take Ford into a modern auto company.
Jim Hackett joined Ford as CEO in 2017, taking the helm as the auto industry was undergoing rapid change.
Major investments would be needed for electric, autonomous and connected technologies amid shifting consumer preferences.
A former CEO of furniture maker Steelcase, Hackett was an unorthodox choice, but was seen as a transformational leader who could re-envision Ford's future.
He refocused product plans more toward SUVs, trucks and electric vehicles and updated aging vehicle platforms.
However, the costly restructuring under Hackett slowed momentum and strained profits.
He failed to articulate a convincing vision for Ford’s way forward during a key transitional period. After nearly 3 frustrating years with limited tangible progress in the company’s transformation, Hackett retired under pressure in 2020.
Though he helped modernize Ford's culture and set technological foundations, Hackett departed without steering the operational transformation investors hoped for.
His successor, Jim Farley, looked to build on those technology investments to restructure Ford more aggressively for the future.
Jim Farley took the helm of Ford in October 2020 at a pivotal moment. The COVID-19 pandemic severely disrupted operations, while the industry faced intensifying competition and technological disruption.
As CEO, Farley moved aggressively to position Ford for emerging opportunities.
He committed Ford to a far-reaching electrification program across all models. He also fostered promising software, connectivity and self-driving technologies through new partnerships.
By splitting operations into Model e (electric/software) and Ford Blue (combustion vehicles) units, Farley aims to help Ford transition toward a digital, electric future more rapidly.
He also looks to transform distribution and services with investments in areas like battery production and vehicle charging networks.
While still early in his tenure, Farley has impressed with his bold vision and sharp strategic focus during an era of profound industry change.
By instilling a startup mentality around new technologies and restructuring operations, he hopes to reinvent Ford as both a legacy automaker and a mobility pioneer leading the way into the 21st century.
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