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Blue Oval Guide

Did Joe Heinrichs Retire or ?

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Late last week, Ford made a surprise announcement when it announced that it was promoting Jim Farley to chief operating officer, and Joe Hinrichs was retiring after 19 years with the company. For many on the outside, the announcement that Hinrichs was retiring was a surprise. There had been no word or rumor before the announcement of him leaving Ford.

 

Read more here:

https://fordauthority.com/2020/02/its-looking-like-joe-hinrichs-didnt-retire-after-all/

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Joe is 53 years old, had a good job off the line, was a year away from 5 weeks vacation. Never talked retirement, per his coworkers. Must have been a good buyout. Odd, most executives of his age, the line is, "left to pursue other opportunities".

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13 hours ago, paintguy said:

Joe is 53 years old, had a good job off the line, was a year away from 5 weeks vacation. Never talked retirement, per his coworkers. Must have been a good buyout. Odd, most executives of his age, the line is, "left to pursue other opportunities".

 

Maybe there is an opening at Steelcase??

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19 hours ago, Blue Oval Guide said:

Late last week, Ford made a surprise announcement when it announced that it was promoting Jim Farley to chief operating officer, and Joe Hinrichs was retiring after 19 years with the company. For many on the outside, the announcement that Hinrichs was retiring was a surprise. There had been no word or rumor before the announcement of him leaving Ford.

 

Read more here:

https://fordauthority.com/2020/02/its-looking-like-joe-hinrichs-didnt-retire-after-all/

 

He is not the first executive to be fired by Ford Motor Company

 

Harry Bennett, Henry Fords right hand man & henchman, was fired by the Deuce in 1945

Lee Ioccoa, one or the greatest automotive minds in history, was fired by the Deuce in 1978

Mark Fields was replaced by Hackett in 2017, because Ford wanted a non-auto guy who embraces AI and autonomous vehicles *.

 

Being a corporate executive can be tough, remember everyone is waiting for your job. 

 

https://money.cnn.com/2017/05/22/news/companies/ford-ceo-fields-hackett/

https://jalopnik.com/why-mark-fields-was-fired-1795431562

Edited by Dayshift

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27 minutes ago, akirby said:

He as not "a year away from 5 weeks vacation".   Executives have individual contracts.  That article was less than worthless.

 

Exactly.  Vacation time is meaningless to executives.  They set their own rules, provided they are getting the job done.  Not to mention, they put in way more than their 40 hours/week.

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Joe explained the how too`s and the why`s once to many times and way to clearly...when it came to the perceived "loss" column.

 

Two days before his pack your bags instructions, he sent out an e-mail. Then the day before, his your retired announcement he posted a company wide posting on the methods of accounting. In his last post he ran down a situation that may not or in this case did not go well with the glass house.

 

He spelled out that our (Ford`s) loss column included models that we no long produce or sell. Then went on to give a clear or maybe to clear picture of the bottom line if the products we don`t produce or sell (some for a complete model year) were pulled from the equation. Yep, Joe actually posted a five percent increase in sales by using his method of calculating just the Ford products we are actually producing. This in the "Profit Sharing Season"?

 

Once again China be`s sick and nobody is showing up for work at the China/Ford facilities. Oh and China being sick is really infecting GM too. Wait Wait Wait.... if you buy a Buick, any Buick can you get infected with the new China sickness?

 

Anyway... sales are down!!!  sales are down!!! so no big profit sharing checks foe ewe`s.  

 

 

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Oops - we had no idea this was in the employee forum.  Sorry!

 

But if you'd like to expand on what the Loss column actually means, I'm still reading!

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I think the shake-up at the top of the company has to do with the poor financial performance of the Company.The top executives must be held accountable for the Explorer Launch fiasco,dont give me this  blame it on the "gangs" bullshit,WTF?So Ford has an assembly plant that is controlled by "roving gangs"?Then what is the management doing about it?The "gangs" excuse might be a 'cover your ass' kinda thing.I think the Board of Directors lost confidence and want to try out someone new.I have heard that at that level emotions can get very intense.Failure is NOT an option.Enjoy your profit sharing from last year because we are starting out this year in the red.

Edited by Fatso

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Knock it off akirby :lol2: you are apart of all this stuff.

 

I`m trying to find Joe`s release from this Monday but I think the clean up crew has done a real good job. Just remember China, Venezuela and etc etc are always masked as "our" loss in sales.....

 

 

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Ok I`m sure that it`s out there somewhere in cyber space... but it`s beyond my skills set.

 

But the jest of Joe`s final report was the company was including products that are no longer in production and have been through the clearance sale process, in the forth quarter financial report on how the over all Ford sales are down in that report. But then Joe went into explaining that with the truck units, and SUV units carrying the bulk of sales and even the Lincoln`s increase in sales the company would show a five percent increase in sales, year over year for 2019 if those non products were excluded. I`m not sure (old...can`t remember) if he touched on the whole China or South American sales issue but I think it may have been a passing reference point.  

 

But then the next morning BAMMM bye bye Joe you just retired.....

Edited by Decker

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That’s fair if you’re projecting performance going forward but if you’re reporting past performance then the numbers are the numbers and costs are costs.  Maybe there was some creative accounting going on but that example seems legit to me.

 

Perhaps he posted that because he already knew he was leaving.  

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Yep, that crossed my mind too. After all the “we are losing sales talk” and even using the sales are “down” rumors out on the floor that even middle managers were frightened with and spreading their nervousness with. it was an interesting point Joe made. 
If that’s the case where he knew of his so called retirement I think his method of waving bye bye could only be topped with a single finger salute. 

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Joe Hinrich's was one of the good guys from people I talk to.

I wish Joe was our current CEO.

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18 hours ago, cal50 said:

Joe Hinrich's was one of the good guys from people I talk to.

I wish Joe was our current CEO.

Reason`s why Joe must go; money losing Explorer Launch at CAP; last quarter Ford lost $$$; Ford Stock going down ; Future financial, picture that places the dividend in jeopardy.This is not high school.Ford is in business to make $$$$ for the shareholders and the Ford Family.I heard he was a "good guy" too but Joe and Jim are driving the company into a ditch.Ford really needs Michigan Assembly to launch that new Bronco smoothly and for customers to want to purchase.I gotta feeling that Local 900 is gonna show us all, how its done,right.Hecho en Wayne,Michigan!

Edited by Fatso

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CAP has / had multiple major issues from repeat sexually harassment lawsuits to launches so bad people should have been fired long ago.

Another failed launch is really no surprise. I am really surprised it stays open and continued new product sourced there.

 

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Once again proof history repeats itself.....

 

                                                                                      Jim Farley Gets A Humongous Raise With His New COO Position

 "Late last week there was a big surprise announced by Ford when Joe Hinrichs was ousted and Jim Farley got promoted to chief operating officer. Farley was previously the president of new business, technology, and strategy and was already making a hefty bundle in that position. A recent federal regulatory filing shows that Jim Farley is getting a massive raise to the tune of $1.98 million in additional salary, bonuses, and stock.

 The bulk of the increase in his compensation plan is a boost to his annual stock grant. Bloomberg reports that his overall compensation is $8.29 million in his new position. Do the math and you’ll see that Farley was already making millions of dollars per year in his previous position. Along with that big salary comes big expectations with Farley expected help turn around the struggling automaker.

 Jim Farley will step into his new position on March 1 when Joe Hinrichs retires. There has been scuttlebutt that suggests Hinrichs was ousted after the blame was laid at his feet for the failed 2020 Ford Explorer launch. Ford has very high expectations in 2020 with several high-profile new models on the horizon. One of those new models is the Ford Mustang Mach-E electric SUV. Another, and possibly more important, new model for Ford is the return of the iconic Ford Bronco.

 Ford also has a smaller Bronco coming that sources tell us will be called the Bronco Sport. Moving into 2021, Ford has a redesigned F-150 pickup that is absolutely critical for the automaker. If Ford misses the mark on any of those high-profile launches it could be disastrous for the company and its stock. Any major failures could also see Farley retiring right behind Hinrichs."

 

Ford gets the blurry eyed look of greed (again) and then focus`s on every pie in the sky idea... ( Detroit Scooter System, Fleet of Transit's for Ride Share, old train stations)... other than the core of it`s business. The Ford burry eyed greed vision was once again caused by the unbelievable high order rate for the Explorer.  But then repeat the "cut costs ideology" we are back in currently, to get back the loss of profit from the loss of orders because of the shipping Explores to FRAP and all over Michigan. Lets see the experience of launching a unit caused a botched launch.... or maybe the office furniture guy thought this would work out?

Edited by Decker

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akirby….Some strange shit going on here.... Merkle post`s a report Monday then by the following Wednesday it`s announced he`s retired and Jimmy is the new COO. Then 05 Mar. (mysteriously) Joe posts a February 2020 Report? With all types of explanations for the 'higher" sales numbers? BooM Joe`s post is moved from top story to way down the list of story`s you have to hunt for...

 

This time I copied the post, here`s part of it....

"The welcomed addition to February’s SUV results was the Ford Explorer!  At retail, Explorer gained 32.2% – its best retail sales performance since the new model was introduced in the middle of last year and our best February retail sales result since 2005!  We’re back in the saddle with Explorer and starting the year off leading the pack.  Explorer has been America’s best-selling large SUV for the first two months of this year, outselling Toyota’s Highlander.

We saw big gains for Explorer in the largest SUV regions of the country.  In New York and Los Angeles, sales were up 54% and 31% respectively.  We also saw big increases from the high-end Explorer ST, with sales up 53% in February. Now… I know some of you might say, “But Erich, total Explorer sales are down.”  That is all due to fleet, the timing of the fleet orders and our desire to focus on brand health and properly manage the number of Explorers that are moved through the daily rental channels of our business. The big news here is customers are going to dealer lots and buying Explorers at retail in greater numbers and in volumes that we have not seen in 15 years!"

Went to the local dealership for the works and watched 3 Explorers be delivered. Asked a friend about that and the reply was yep all from dealer transfers. We still are having trouble getting our orders "from you guys"???

 

Edited by Decker

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Merkle supported Heinrichs business model and incentives in the past and still. I`m wondering when he will become retired?

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