Ford Board of Directors: Shaping the Future of Automotive Innovation

The Role of the Board of Directors

The Ford Motor Company's board of directors is responsible for overseeing the company's strategic direction, financial performance, and compliance with ethical and legal standards. The board consists of 14 directors, including Executive Chairman William Clay Ford Jr., President and CEO Jim Farley, and several independent directors with expertise in finance, technology, and automotive industry.

Composition of the Board

Independent Directors:
* Alexandra Ford English, Former CEO of Kraft Foods
* Kenneth B. Frazier, Former CEO of Merck & Co.
* Edsel B. Ford II, Grandson of Henry Ford
* Alan Mulally, Former CEO of Ford Motor Company
* Edward Whitacre Jr., Former CEO of AT&T

Executive Directors:
* William Clay Ford Jr., Executive Chairman
* Jim Farley, President and CEO
* David Farley, Chief Operating Officer
* John Lawler, Chief Financial Officer
* Jim Birch, President, Ford North America

Strategic Focus

The Ford board of directors focuses on key strategic priorities to drive the company's long-term success:

• Electrification: Accelerate the transition to electric vehicles and develop industry-leading battery technology.
• Connectivity: Enhance vehicle connectivity and deliver innovative mobility solutions.
• Autonomous Driving: Invest in autonomous driving technologies to improve safety and efficiency.
• Sustainability: Reduce environmental impact and promote sustainable practices throughout the supply chain.
• Globalization: Expand Ford's presence in global markets, particularly in emerging economies.

Financial Performance

Under the guidance of the board, Ford has achieved significant financial success in recent years. In 2022, the company reported:

• Revenue: $158.1 billion
• Net income: $17.9 billion
• Global unit sales: 5.3 million

Corporate Governance

The Ford board of directors is committed to strong corporate governance practices, including:

• Independent Board Leadership: The board is led by an independent chairman, ensuring objective oversight.
• Audit Committee: An independent audit committee oversees the company's financial reporting and compliance.
• Compensation Committee: A compensation committee determines executive compensation based on performance.
• Nominating and Governance Committee: A nominating and governance committee recommends new board members and reviews corporate governance policies.

Stakeholder Engagement

The Ford board of directors actively engages with stakeholders, including shareholders, employees, customers, and regulators. The board regularly meets with these groups to gather feedback and inform the company's decision-making process.

Customer-Centric Approach

The board places a high priority on understanding and meeting the needs of Ford customers. The board actively seeks customer input through surveys, focus groups, and other engagement activities. The board also ensures that customer feedback is incorporated into product development and marketing strategies.

Innovation and Transformation

The Ford board of directors recognizes the importance of innovation and transformation in the automotive industry. The board supports investments in research and development, and encourages the exploration of new technologies and business models. The board also fosters a culture of innovation and creativity within the company.

Conclusion

The Ford Motor Company's board of directors is a dynamic and dedicated group of individuals who are committed to driving the company towards a successful future. The board's strategic focus, financial success, and commitment to corporate governance and stakeholder engagement ensure that Ford remains a leader in the global automotive industry.

Tables

Table 1: Composition of the Ford Board of Directors

Table 2: Strategic Priorities of the Ford Board of Directors

Table 3: Key Financial Metrics

Table 4: Corporate Governance Practices of the Ford Board of Directors