Home > Former Ford CEO Joins New Company

Business
Former Ford CEO Joins New Company

Description

Mark Fields, the former CEO of Ford who was ousted earlier this year after 28 years at the automaker, will join TPG Capital as a Senior Advisor, Business Insider has learned. TPG is a private-equity and alternative asset giant with over $73 billion in assets under management and was started as the Texas Pacific Group in 1992 by David Bonderman, James Coulter, and William S. Price III. TPG has grown substantially from its first offices in Northern California to locations worldwide. Over the decades, it has invested in numerous companies and participated in high-profile leveraged buyouts. Fields, 56, will focus on expanding the firm's industrials practice. Investments in this sector have included airlines and private-jet companies; going forward, TPG wants to invest in logistics, packaging, and mobility. TPG's first major investment was in bankrupt Continental Airlines in 1993, which according to firm resulted in a 1,000% return. "New technology is driving change and creating opportunities for growth and value creation throughout business operations. That gives us the opportunity to rethink traditional industrial applications, such as supply chains , like never before,"

Added on the 17/10/2017 17:00:56 - Copyright : Wochit

To customise your video :

Or Create an account

More videos on the subject

  • Fiat Chrysler And Renault Reveal They May Join Forces in 50/50 Merger

    According to Business Insider, Fiat Chrysler Automobiles and Renault have revealed plans to execute a 50/50 merger with a new parent company holding the combined entity. The proposed partnership will result in the creation of the world's 3rd-largest automaker. Renault has been in a longtime alliance with Nissan and Mitsubishi; that could be coming to an end depending on the outcome of engineer Carlos Ghosn's trial in Japan on charges of financial malfeasance. To analysts, the proposed merger looks like a partnership of two companies that have struggled as the auto industry has witnessed surging sales since the financial crisis.

    28/05/2019 - Wochit
  • Ford Finishing Cutting 7,000 Jobs

    DETROIT -- Ford Motor Co. CEO Jim Hackett told employees Monday the automaker is entering the final stretch of job cuts it began last year and that, by September, it will have shed 7,000 salaried positions globally - roughly 10 percent of its salaried workforce - saving the company $600 million. The number includes voluntary buyouts, involuntary separations and open positions Ford chose not to fill. "Ford is a family company and saying goodbye to colleagues is difficult and emotional," Hackett wrote in an email. The process, which Ford has deemed a "smart redesign," appears to have taken longer than initially expected.

    20/05/2019 - Wochit
  • Mitsubishi CEO Stepping Down

    TOKYO -- Mitsubishi Motors Corp. said on Friday that Osamu Masuko will step down as its chief executive on June 21 and be replaced by Takao Kato, who is president of its operations in Indonesia. Japan's sixth-largest automaker, in which Nissan Motor Co. holds a controlling stake, said this month it expects profit to fall to 90.0 billion yen ($821 million) in the year to March as it navigates slowing demand for cars, global trade frictions and the need to develop new technologies.

    17/05/2019 - Wochit
  • Ford CEO Made $17.7 Million Despite Rough Year

    Ford CEO Jim Hackett's compensation rose 6% to $17.75 million, from $16.7 million in 2017, despite the company's difficult 2018 results which saw profits drop by more than 50%. The automaker struggled in Europe and Asia last year as it attempts to complete a major overhaul of its strategy. Ford's share price fell 40% last year but Hackett earned $1.3 million in basic pay, a $1 million bonus, $10.3 million in stock awards plus $3.6 million from the company's incentive plan.

    18/03/2019 - Wochit
  • Ford Worker Sexually Harassed By Supervisor

    According to Automotive News, A female employee at Ford Motor Co.'s Dearborn Truck Plant in Michigan is suing the automaker after she says her supervisor groped her, showed her lewd photos and repeatedly solicited her for sex. Ford says it fired the supervisor, Nicholas Rowan, in December after an internal review. A Ford spokeswoman, Kelli Felker, said “Ford does not tolerate sexual harassment or discrimination. We launched an investigation, immediately suspended the employee that was the subject of the complaint, then fired him in December."

    21/01/2019 - Wochit

More videosBusiness

Watch video of Shares Of Blue Apron Dipped To An All-time Low. The Meal-kit Subscription Dropped To $1.81 Per Share On Tuesday. The Company Has Faced Increasing Pressures From Competition, Like HelloFresh. Big Companies Like Walmart And Amazon Entering Its Space. In March, Walmart Announced It Was Launching Its Own Line Of Meal Kits. The Company Has Struggled To Attract New Customers And Retain Old Ones Since Going Public Last June. - Blue Apron Shares Drop To A New Low - Label : Wochit -
Business

Blue Apron Shares Drop To A New Low

03/04/2018 21:21:24