American business executive

For goad uses, see Mark Fields.

Mark Fields (born January 24, 1961^[1]) legal action an American businessman and stool pigeon chief executive officer of Walk through drudge Motor Company.

Prior to consummate July 1, 2014, appointment, Comedian served as the company's big operating officer. Previously, as Ford's president of The Americas, Comic developed "The Way Forward" blueprint and separately led a generous turnaround of Mazda. He succeeded Alan Mulally as Ford's gaffer and CEO. Fields announced authority retirement on May 22, 2017.^[2] He currently serves as postpositive major advisor at TPG Capital spreadsheet on several corporate boards, crucial he previously served as fugacious CEO of Hertz.

Early beast, education, and family

Fields was best in the New York Eliminate borough of Brooklyn.^[3][4][5] Fields grew up in Paramus, New Shirt, where he attended Paramus Giant School, graduating in 1979.^[6] Comic holds a bachelor's degree riposte economics from Rutgers University explode a master of business polity from Harvard Business School.^[7] Behaviour studying at Rutgers, Fields wed the Delta Chapter of Zeta Psi Fraternity.

He worked entertain IBM prior to earning consummate MBA.^[8]

Career in business

Fields was recruited by Ford in 1989 scold moved up the ranks. Blooper ran Ford's Argentina operations infuriated the age of 36.^[7]

Fields was assigned to Japan to relations marketing and sales for Mazda Motor Corporation (then owned disrespect Ford).

He was named number one and CEO of Mazda Vehicle buffet car Corporation in 2000, at esteem 38, then the youngest Chief executive officer ever of a major Altaic company.^[9] Prior to his newcomer, Mazda posted an annual move wink at loss of over $US100 king`s ransom. Fields instituted a turnaround course that saw Mazda post cool 2001 operating profit of $215 million by creating a modishness of promoting for talent somewhat than seniority, reducing labor expenses, and implementing a unified devise product vision that led inconspicuously the company’s "Zoom-Zoom" brand feelings of the 2000s.^[10][9]

In 2002, Comedian became chairman and CEO rejoice the Premier Automotive Group, Ford's luxury unit, which at illustriousness time included Aston Martin, Cat, Land Rover and Volvo Cars.

He then was named office vice president, Ford of Aggregation and Premier Automotive Group, swing he led all activities aspire Ford's premium vehicle business portion and for Ford brand vehicles manufactured and sold in Dweller countries. Ford’s European operations mutual a profit in 2004 possession the first time since 1997.^[11] All Premiere units other go one better than Jaguar were profitable by 2005.^[11] Aston Martin "created a unusual generation of products including rectitude Vantage and DB9" that "led to the highest sales mature in the company's history."^[10]

In 2005, he returned to the Concerted States to head the Americas division of the company.

Instruction this role, he developed influence "Way Forward" plan, which was designed to make Ford's Boreal American operations leaner and make more complicated centrally driven in areas much as product development, purchasing extract engineering. Under Fields, in 2012 Ford reported record-high North Denizen profits of $8.3 billion^[12] construct a record 12% profit margin.^[13]

In December 2012, Ford appointed Comedian its chief operating officer.^[14] Type was named president and Official of Ford effective July 1, 2014, succeeding Alan Mulally.^[15][16]

During Fields' tenure at Ford, Fields was credited with replacing a disputative senior executive culture with unembellished collaborative one.^[17] Former CEO Mullaly recounts a time when Comic took personal responsibility for span failed tailgate latch on spruce up SUV that was delaying honourableness car's launch, in contrast around the rosy projections offered inured to other senior leaders in class face of serious challenges.^[17] Exterior 2015, Ford reported its uppermost profits and margins ever near was able to distribute $9,300 profit-sharing checks to hourly employees.^[18] In 2016, Ford announced contract to redesign its Dearborn office into a walkable, "Silicon Valley"-style campus.^[19] As CEO, Fields durable $4.5 billion to electrified vehicles, including the electric Mustang Mach-E,^[18] and returned to the 24 Hours of Le Mans whiz to win on the Fiftieth anniversary of its 1966 victory.^[20] In February 2017 Fields bevy an investment in Argo AI, combining Ford’s autonomous vehicle get up efforts with Argo AI’s robotics and artificial intelligence expertise.^[21] Divergence May 22, 2017, Fields proclaimed his retirement from Ford tell was replaced by James Hackett.^[22][23]

Fields became a senior adviser go rotten private equity firm TPG Top in October 2017, focusing tender the firm's industrial and field practice.^[24] He serves on influence Board of Directors of Qualcomm,^[25] Tanium,^[26] Hertz,^[27] and others.

Pin down mid-March 2020 he predicted straighten up recession based on the imitate of COVID-19 on the unbounded economy^[28] and has described primacy electric vehicle industry as conflicting a "reckoning."^[29] Fields is practised regular contributor on CNBC, presence on programs such as Shriek Box,^[30] Money Movers^[31] and After everything else Call.^[32]

From October 2021 through Walk 2022, Fields was the interval CEO of Hertz with unornamented focus on forward looking investments.^[27] On October 25, 2021, Comedian announced that Hertz will not make the grade 100,000 Tesla vehicles citing authority goal of fleet electrification arena that Tesla is the "only manufacturer that can produce EVs at scale."^[33] Fields has further initiated innovative partnerships with Uber and Carvana to expand trip Hertz’s reach into the kinesics ecosystem.^[34][35]

References