Amid rumors that
Ford Motor Co.
) president and chief executive officer Alan Roger Mulally may
) as their CEO, the automaker's board has reportedly decided to
meet this week. Meanwhile, Ford said that Mulally will continue
to work on his One Ford plan.
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Mulally has been Ford's president and CEO since Sep 5, 2006. He
has helped the automaker to counter recessionary impacts and
generate higher profits. During this tenure of seven years,
Ford's shares have gained 104.5% to $16.81 as of Oct 7, 2013.
What is crucial for Ford is to have a clear idea about its
leadership. Chairman Bill Ford, Mulally himself and chief
operating officer Mark Fields have hinted at no change of the top
brass through 2014. Nonetheless, a definite decision will help
having a smooth transition if Mulally leaves and will also help
management plan the future of One Ford plan.
Ford's accelerated product transformation plan One Ford is
positively impacting the company. The foremost mission is to
produce common vehicle models for all of its global segments
within five years from now. Another key objective of the plan is
to shift focus from trucks to small cars and deliver more
vehicles from fewer core platforms. Ford already renewed 70% of
its product line-up along with some discontinuations and has
planned several new launches under the One Ford plan. Further,
Ford expects to meet challenges in Europe and South America by
executing its One Ford plan.
Ford currently has a Zacks Rank #1 (Strong Buy). Other major
automobile stocks worth considering are
General Motors Company
). Both these stocks carry a Zacks Rank #2 (Buy).