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Jim Farley Reveals New 10-Point Plan At Ford Shareholders Meeting

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Since Ford CEO Jim Farley took control of the iconic automotive manufacturer last year, the company has faced some challenges while undergoing a bit of a transition. The automaker has gotten off to a pretty good start, sales-wise, this year, but is undoubtedly facing major challenges as a result of the semiconductor chip shortage, supply chain restraints, and the world’s transition to electric power. Thus, Farley revealed a new 10-point plan at this year’s Ford shareholders meeting with some general points on how to get there, as Michael Martinez from Automotive News reports.

“The Plan,” as Farley calls it, is a mixture of old-fashioned business acumen and a look toward the future. Things like treating customers like family and creating desirable products are just basic good business sense, but the desire to modernize its products while simplifying things and leading the electric revolution, well, those are not always the goals of a legacy company.

However, these points from the Ford shareholder meeting do go hand-in-hand with what Farley has done and said in recent months. In addition to stating his desire to move battery manufacturing in-house, investing in solid-state battery development, and creating a battery research and manufacturing facility, Ford will reveal its first-ever all-electric Ford F-150 – the Ford F-150 Lightning – next week.

Meanwhile, Ford recently doubled its investment into EVs through 2025, while Farley has expressed his desire to slash warranty costs by ensuring vehicle quality, particularly at launch, as well as building and selling more affordable vehicles in the future.

We’ll have more from the 2021 Ford shareholders meeting soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

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Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. Alexander

    I really hope there is more detail. That is the most generic plan I’ve ever heard. I do however, think they could benefit from some of these things. They need to take a page from Tesla’s book and utilize vertical integration, they also need a more seamless integration between hardware and software. Not to mention, a boost in quality would be a big help.

    Reply
    1. Roy Chile’s

      Jim Farley knows nothing Lincoln is the Luxury Brand but Ford is getting all the attention. Where’s the Lincoln EV models Aviator? Blackwood Pickup? Continental suicide doors sedan? Mark Coupe with suicide doors? Navigator ? Lincoln could have been the American EV Company but No they want to sale regrilled SUV’s

      Reply
  2. Martin

    His speech sounds much like the previous generic, motherhood/apple pie speeches by the furniture guy.

    Reply
  3. NCEcoBoost

    I was in corporate America for decades and it irritated the heck out of me how much time we spent on publishing goals that always came out looking like this generic mumbo-jumbo. Total waste of time and I hope that shareholders were unimpressed. Might be Farley but it sure smells like Hackett. The problem MUST lie with Bill and the Ford family because no other major company cycles through CEOs as fast as Ford and it looks awful from the outside. I sense that Farley’s days are numbered as well.

    Reply
  4. matt

    they need to resurrect Mulally. Ford needs a “Marine” in charge to ruthlessly stomp on toes and bureaucracy, smash the union down to size/irrelevance, and move plants to freedom-of-association states.

    Quality, quality, quality. Fk the shareholders. Serve the customers first and foremost and the shareholders will be rewarded in due course.

    Ford quality is just inexcusable. Cars/Trucks at 10,000 cheaper (or even lower) have superior quality and fit and finish. They are made by Japanese/Koreans/non-union Americans who give a damn about what they do and more importantly, have supervisory management that REFUSES to accept mediocrity.

    Reply
    1. John M Russell

      You must have not owned any new Fords lately. My 2016 Fiesta ST has seen the dealer once in 5 years for a minor HVAC vent problem. My wife’s 2019 Mustang GT/CS has been flawless. I have seen nothing in either car that is a problem in fit or finish, panel gaps match nicely. Our Ranger, LTD, previous Mustang GT and Capri RS all never went back for repairs. My new Buick I dumped after 4 months as it had spent 2 months at the dealer and my Olds I left on the side of the interstate after it left my stranded one time too many. Most of Fords “reliability” issues 5-6 years ago was the technology (Sync) was over the heads of many people and each time a geriatric or dumb chit had to bring in the car to get shown how to operate the nav or connect a phone it was treated the same as an engine failure by surveys.

      Reply
      1. matt

        I own 2 ’19 Mustangs and a ’20 F150. The interior is ‘good’ by Ford’s unique definition of the term, not the rest of the world.
        Just because Detroit defines sh*t as acceptable quality doesn’t make it so.

        The Explorer was a launch disaster. So was early ’21 F150 that had to be reworked by the thousands. (no, not the chip shortage fall-out)

        Reply
  5. roger

    June 2021 p.60 Consumer Reports just gave poor review of new 2021 F150; I do not understand this. I don’t feel it is an honest review. Can Ford?, will Ford? address this, or is Consumer Reports biased in this case. If legit, I am sure Jim Farley, Ford CEO will address and fix; to me that seems to be who he is. He may be the greatest Ford CEO and his team since the founding CEO; I hope, I think.

    Reply
    1. matt

      can you perhaps cite some of the relevant bits?

      Reply
    2. John M Russell

      All you have to do with CR is ignore it like the rest of the world. It died long ago as a source of trusted data on anything!

      Reply
    3. Bruce Holberg

      CR seems to have had an anti Ford bias for eons. Someone should look into their finances!

      Reply
  6. LWA

    Amazingly generic. Disrupt ourselves? That goes back to Mark Fields. Who was a better CEO than Furniture man and Chris’s cousin combined.

    Reply
  7. roger

    As a Ford stockholder I offer. Mark Fields showed he was not fit to be Ford CEO;could not develop strategic vision, nor fix quality, could not express himself, seemed more interested in outside activities and credit then run Ford. Hackett surprisingly did perfect to fill in before Jim Farley, and for transition saved Ford.Jim Farley spent his whole life involved with Ford. Rebuilt 8 mustangs and raced, rebuilt cars as a child with grandfather who worked side by side with Henry Ford, was senior exec at Lexus and handpicked and hired by Alan Mullaley. Bill Ford JR and Ford Board have done fantastic job bringing an incredible management to Ford, maybe greatest in history of Ford since founding Henry Ford.Jim Farley maybe best auto exec in world. Lucky Ford, customers, and shareholders

    Reply
    1. LWA

      Uh…..Fields was run off because of the stock price. Which was still higher on his last day than it is now. And it was half of what it is now under Hackett (I’ll refrain from my usual perjoratives for him).

      I, too, am a Ford stockholder……for now.

      Reply
  8. Stew

    I worked for Ford for 34 years and caring for each other and for our customers was one Ford’s major strengths… it takes much care and collective effort to make something as complex and wonderful as a modern automobile. When we failed to look after each other or our customers we failed to make great products. I am so encouraged that caring for each other and our customers is being recognized as one of the top ten things the company must do to succeed…it is
    good news for Ford and good news for Ford customers.

    Reply
    1. matt

      so how come you and your coworkers just let CRAP paint and CRAP^2 panel fitment just go blithely by on the assembly line? Or install interior pieces that are CLEARLY wrong? Mindless and robotic slapping of parts onto snap points and not paying attention is not acceptable. Where is the QA team on supplier parts intake? How are IRS frames so laughably mis-aligned, and suspension too?

      You’re supposed to FIRE people who can’t be bothered to pay attention, not coddle them. You’re supposed to DEMAND floor supervisors get jumping ugly and chew asses like Drill Instructors and put boots in asses. Do their job RIGHT or get the hell out. Oh wait, the damnable union is a bunch of little girls who can’t stand some well deserved criticism and reprimand.

      Reply
      1. Bruce Holberg

        What? No kumbaya moments ?

        Reply
  9. Sam

    Ford pays top dollar for everything labor, managers , etc. in return they should have top quality. And hold themselves accountable. It’s the one thing people will buy quality. I took my 2019 150 in for paint blister on front bumper. And was denied remedy . That’s not how you win friends and neighbors.

    Reply
  10. Stan

    Ford pays top dollar for everything labor, managers , etc. in return they should have top quality. And hold themselves accountable. It’s the one thing people will buy quality. I took my 2019 150 in for paint blister on front bumper. And was denied remedy . That’s not how you win friends and neighbors.

    Reply
  11. Hermann Andres

    Why is 2021 Nautilus with revised interior from my current 2016 MKX the only Lincoln SUV/CUV without available Head Up Display ? Will 2022 Nautilus have HUD or should I change to another manufacturer ?
    Kind regards,
    Hermann Andres

    Reply
  12. Jordan

    I am hopeful Farley will bring more Ford products I want to buy. The only thing in the line-up I like is the real Stang. I love my MKZ, but unless Ford offers some kind of interesting and sporty CAR, they will not have anything to draw me away from the Japanese offerings. Best of luck to FoMoCo, because I can guarantee the next two cars I buy will not be Fords, due to the line-up they will carry for the next 3-5 years.

    Reply
  13. Jim Glass

    The dealer’s must listen and adapt. They are the major weakness in the process. Farley can control corporate attitudes and actions but dealers are a whole different story. Today I talked to a Ford parts employee who knew absolutely nothing about the Mach E. This must change and it up to the dealer’s to get on board… now.

    Reply
  14. JimGlass

    The dealer’s must listen and adapt. They are the major weakness in the process. Farley can control corporate attitudes and actions but dealers are a whole different story. Today I talked to a Ford parts employee who knew absolutely nothing about the Mach E. This must change and it up to the dealer’s to get on board… now.

    Reply
  15. jack skyler

    Hey don’t blame the Dealers-blame Corporate Greed . The Dealer cannot make major repairs without Corporate approval. And Corporate doesn’t want to spend money for warranty repairs that will lower profits and chase investors away .My 2018 f150 with the BMW Frankenstein six-speed transmission started having delayed engagement at 3,000 miles.. TSB says solution is Replace Transmission Pump Assembly. Dealer cannot get Ford authorization to make the repair, because that is a” normal condition for the 6r80 transmission”. That = zero dollars in the dealer’s bottom line; and $ 6,000 profit in Ford’s bottom line. If Jim Farley wants to treat customers like Family- i’m glad i’m not related,

    Reply

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