Ford Motor Company Charts A Path Forward
Monday marks the last day of Alan Mulally’s tenure as CEO of Ford Motor Company(NYSE:F). Investors are now hoping his successor, Mark Fields, will be able to build on Mulally’s accomplishments. Shares of Ford doubled since Mulally took over seven years ago. During that time, the company weathered the financial crisis and was the only carmaker not to need a federal government bailout in 2009.
“Mulally has certainly left Ford in an excellent position,” said Gina Sanchez, founder of Chantico Global. “If you look at where he took over Ford, with a $30 billion loss from 2006 to 2008, and where it has been for the last five years, with over $45 billion in gains in revenues, that’s incredible.”
Sanchez has confidence in Ford’s incoming CEO, Mark Fields. “Fields is really seen as an innovator,” said Sanchez, a CNBC contributor. “He was the COO, and he oversaw many product launches. I think his take is going to be that innovation is the key. That’s absolutely right, especially in an industry that is facing potential disruption from the likes of Tesla…. Ford could be headed in the right direction.”
As Ford is about to go through a leadership change, the company’s stock may also be at a critical juncture. It all could hinge on whether it breaks above $18 per share, according to the charts of Richard Ross, global technical strategist at Auerbach Grayson.
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