Ford CEO Jim Farley, appointed in October 2020, faces immense pressure as the company's EV business struggles, with layoffs in Europe and deteriorating stock performance.
Bill Ford has a history of firing CEOs, with a trend indicating a tenure of around four years for his leadership choices; Farley must navigate this precarious situation.
Despite an ambitious $30 billion investment plan for EVs and a production goal of 600,000 vehicles by 2023, Ford has retraced deadlines as market share declines.
Quality issues and warranty claims are increasingly damaging for Ford, leading to significant earnings setbacks, fines, and recalls that Farley asserts will improve over time.
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