Bloomberg reports that there is a threat that another Ford family member will run the company when Bill Ford, the current executive chair, steps down. Alexandra Ford English joined him on the stage at a policy conference, the first time they were together at a public event since she joined the board in 2021. There is not a shred of evidence that she can run Ford Motor Co. (NYSE: F), which CEO Jim Farley says is in deep trouble.
Bloomberg reports, “Ford lauded his daughter as an unflinching truth-teller and ‘the brave one’ in their family, while English busted his chops over his love of practical jokes.” Busting chops is not what Ford needs as its prospects spiral downward. Ford stock is flat this year, while the S&P 500 is 17% higher.
English may have driven a Ford, but she has not done much more in the auto industry. Her experience at Ford is, most notably, as “global brand merchandising director.” She also worked at Tory Burch and Gap. Absent is any experience in the manufacturing industry or a stint as part of a turnaround team.
While there may be nothing entirely wrong with English as Ford’s leader, there is certainly nothing particularly right with her either. She may be able to churn through CEOs like Bill Ford has as he tried to pick a winner. He had one from 2006 to 2014 in Alan Mulally. Mark Fields replaced Mulally and lasted about two years. He was followed by James Hackett, who was best known for the period he worked at furniture maker Steelcase. Hackett was kicked out after a little more than three years.
The company could hire someone as board chair or executive chair who actually has the qualifications to run the company. The Ford family could keep control through its voting shares.
If there is one more thing that would get investors to view Ford as a dying company, it would be to hint to the market that English will eventually oversee Ford as the company is in the worst trouble in its history.
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