William Clay Ford Jr. | |
|---|---|
.jpg) Ford in 2012 | |
| Born | (1957-05-03)May 3, 1957 (age 68) Detroit, Michigan, U.S. |
| Other names | Bill Ford |
| Education | Princeton University (BA) Massachusetts Institute of Technology (MS) |
| Occupation | Executive Chairman of theFord Motor Company |
| Spouse | Lisa Vanderzee |
| Children | 4 |
| Parents |
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| Relatives | Sheila Ford Hamp (sister) Henry Ford I (great-grandfather) Edsel Ford I (grandfather) Henry Ford II (uncle) Edsel Ford II (cousin) Harvey S. Firestone (great-grandfather) Harvey S. Firestone Jr. (grandfather) |
| Family | Ford |
William Clay Ford Jr. (born May 3, 1957), commonly known asBill Ford, is an American businessman, serving as the executive chair ofFord Motor Company since 1999. The great-grandson of company founderHenry Ford, Ford joined the board in 1988, and also served asCEO of the company from 2001 to 2006.[1][2] He also serves as the vice chair of theDetroit LionsNFL franchise,[3] and as chair of the United States-Mexico Chamber of Commerce.[4]
Bill Ford was born inDetroit, Michigan, the great-grandson ofHenry Ford I and great-grandson ofHarvey S. Firestone. His father wasWilliam Clay Ford Sr. and his mother wasMartha Firestone. On his mother's side, his grandparents wereHarvey S. Firestone Jr. andElizabeth Parke. On his father's side, his grandparents wereEdsel Ford I and Eleanor Lowthian Clay.Edsel Ford II, son ofHenry Ford II and also a board member, is his first cousin. Ford has three sisters: Martha Morse (who has 3 children),Sheila Ford Hamp (who has 3 children), and Elizabeth Kontulis. He, like his great-grandfather Henry Ford, is of mainly Irish, English, and Belgian descent.
Ford graduated from theHotchkiss School in Connecticut in 1975.[5] He then attendedPrinceton University and graduated with an B.A. in history in 1979 after completing a 105-page long senior thesis titled "Henry Ford and Labor: A Reappraisal."[6] While a student at Princeton, Ford was president of theIvy Club and played on thePrinceton rugby team. In 1984 he received anM.S. in management as aSloan Fellow from theMIT Sloan School of Management.[7]
He joined Ford in 1979 and held a variety of positions, beginning in product development and on the financial staff, a grooming ground for future executives. He served several years as a mid-ranking executive in product development. He also briefly headed the Climate Control Division (since divested from the company as part of theVisteon spinoff). At the time of the Ford 2000 reorganization, he was in charge of heavy truck operations.
Ford gave up an executive position in heavy truck program management to become chairman of the finance committee on theboard of directors, a non-executive corporate governance position. He was elected chairman of the board in September 1998 and took office on January 1, 1999. Ford added the title ofchief executive officer on October 30, 2001, following the ouster of then-CEOJacques Nasser. With the retirement of Fordpresident andchief operating officer Jim Padilla in April 2006, Bill Ford assumed those roles as well. On September 5, 2006, Ford announced that he was stepping down as president and CEO, naming formerBoeing senior executiveAlan Mulally as his replacement. Ford continues as the company's executive chairman.[2]
At the time of his stepping down, Ford was ranked 264th onForbes' list of top-earning CEOs, at $10 million per year.[8][9]
In 2000, he announced that the company would achieve a 25% improvement infuel efficiency in the company's light truck fleet, including SUVs, by mid-decade.[10]
Under his direction,Ford Motor Company made technological progress toward improving fuel efficiency, with the introduction of theHybrid ElectricEscape, the most fuel-efficient SUV on the market, achieving 36 mpg (EPA) in city driving.[11] The Escape's platform matesMercury Mariner andMazda Tribute were also scheduled to receive hybrid-electric powertrain options, along with other upcoming vehicles in the Ford product line including theFord Fusion andMercury Milan. Ford announced that half of the vehicle lineup would be available with advanced hybrid-electric powerplant options by 2010, although the company's earlier pledge to build 250,000 hybrid vehicles a year by 2010 proved to be overly optimistic and had to be abandoned. Ford also continued to studyFuel Cell-powered electric powertrains and demonstrated hydrogen-fueled internal combustion engine technologies, as well as developing the next-generation hybrid-electric systems. In addition to the Ford Escape, Hybrid Escape, Mercury Mariner, and Mazda Tribute, Ford marketed high efficiency crossover SUVs such as theFord Freestyle, theVolvo XC70 and theVolvo XC90. Ford also developed new crossover SUVs, such as theFord Edge,Lincoln MKX, andMazda CX-7.
Ford expanded its lineup offlexible-fuel vehicles,alternative fuel vehicles, and dual-fuel vehicles. Flexible fuel vehicles can operate on a range of fuel mixtures – such as ethanol-gasoline blends ranging from pure gasoline toE85 (85%ethanol, 15% gasoline). Alternative fuel vehicles operate on non-petroleum fuels, such asmethanol,compressed natural gas (CNG),propane, and hydrogen. Dual fuel vehicles generally have two fuel tanks – one for compressed natural gas or propane, and another for regular gasoline – with a selector switch to choose between them. Vehicles using those fueling alternatives were in test fleets, for example as taxis and shuttle buses, and some were available for sale to the public. Ford was committed to sell 250,000 alternative and flexible fuel vehicles – the majority of which would be designed to operate on ethanol-gasoline blends such asE85 – in 2006.[12]
Speaking at conference in November 2000 inLondon, Ford suggested that the company might one day offer aservice where it owns vehicles and makes them available to people when they need access to them.[13]
Market competition, health care, and raw material costs led Ford to announce a second restructuring for its North American operations in four years. Ford's restructuring plan, dubbed "The Way Forward", reversed a $1.6 billion loss during 2009 in its North American operations. The company returned to profitability in 2010.[14]
Ford has been a vocal advocate for improvements to be made in all modes of global transportation, having stated that governments and private industry would need to rethink transportation infrastructure and technology as the global population expands and the existing infrastructure is unable to keep pace.[15] In January 2010, he announced the launch of a strategic investment firm, Fontinalis Partners, with the purpose of investing in innovative companies developing next-generation mobility solutions.[clarification needed] Ford co-founded the firm with Ralph Booth (chairman and CEO of Booth American Company and a media and telecom investor), Mark Schulz (former head of Ford Motor Company's international operations), Chris Cheever, and Chris Thomas.[16]
Bill Ford is married to Lisa Vanderzee Ford, and they have four children.[17] He is first cousin toAlfred Ford.
Ford has been a vegetarian since 1990, and adopted avegan diet in 2010.[18]
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| Preceded by | Chairman of theFord Motor Company 1999–present | Incumbent |
| Preceded by | CEO of theFord Motor Company 2001–2006 | Succeeded by |
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