Major automakers, including Ford, are trying to cross-pollinate their management and engineering ranks with people from social media, online retail and other software-dominant industries.
The market for personally-owned vehicles is converging with emerging transport services as ride-hailing and ride-sharing. The transition is expected to accelerate development and deployment of automated vehicles.
It is unclear if or when those new services, often referred to as “smart mobility,” will generate profits. Bob Shanks, Ford's executive vice president and chief financial officer of Ford Motor Co., is retiring at the end of 2019. In other management changes announced Thursday, Ford appointed Mark Ovenden president of its International Markets Group, succeeding Peter Fleet who is retiring. Stuart Rowley is the new president of Ford of Europe, and Steven Armstrong becomes Ford of Europe chairman.Ford is in the middle of an $11 billion restructuring, cutting thousands of salaried jobs in the U.S.
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