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Ford Promises to be More Transparent About Turnaround

But analysts still wonder what it’s planning.

by Paul A. Eisenstein on Sep.13, 2018

Ford CEO Jim Hackett hasn't been entirely transparent about his plans to revamp the company.

When Jim Hackett was named CEO of Ford Motor Co., following a senior management shake-up last year, he promised to spend the next 100 days studying the company’s strengths and weaknesses to devise a clear turnaround strategy.

A year later, however, analysts and investors are still wondering what’s in store. The company has announced a few key elements of its plan, starting with the announcement that it will all but abandon the passenger side of the U.S. new car market to focus on the more profitable SUVs, CUVs and pickups that have come to dominate the sales charts.

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Confusion about where Ford is heading with a turnaround plan it now values at $25.5 billion has translated into a sharp slump in its stock price, shares falling by more than a quarter this year, barely nudging the $10 mark all summer. Meanwhile, Ford’s debt rating has tumbled to just a bare step above junk status. (more…)