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DEARBORN, Mich., March 11, 2016 – Ford Motor Company is announcing today the creation of Ford Smart Mobility LLC, a new subsidiary formed to design, build, grow and invest in emerging mobility services. Jim Hackett, former Steelcase vice chairman and CEO, is leaving his position on the Ford Board of Directors to serve as chairman of the new subsidiary.
Ford Smart Mobility LLC is part of Ford’s expanded business model to be both an auto and a mobility company. The company is continuing to focus on and investing in its core business – designing, manufacturing, marketing, financing and servicing cars, SUVs, trucks and electrified vehicles. At the same time, Ford aggressively is pursuing emerging opportunities through Ford Smart Mobility, the company’s plan to be a leader in connectivity, mobility, autonomous vehicles, the customer experience and data and analytics.
“Ford Smart Mobility and expanding into mobility services are significant growth opportunities,” said Mark Fields, president and CEO, Ford Motor Company. “Our plan is to quickly become part of the growing transportation services market, which already accounts for $5.4 trillion in annual revenue. Jim Hackett is the right visionary leader – with extensive experience in business development and design – to take us into the mobility services business in the future.”
Ford Smart Mobility LLC: Building and Investing in New Mobility Services
The new Ford Smart Mobility LLC will build on the products, technologies and Ford Smart Mobility innovations and work already under way at Ford Motor Company. Working with Ford’s existing product development, research and advanced engineering, marketing and data analytics teams – which will remain unchanged – the subsidiary will develop commercially ready mobility services and invest in promising mobility-related ventures.
Designed to compete like a startup company, Ford Smart Mobility LLC will design and build mobility services on its own, and collaborate with start-ups and tech companies.
“Ensuring the freedom of mobility requires us to continually look beyond the needs of today and interpret what mobility will mean to future generations,” said Bill Ford, executive chairman, Ford Motor Company. “This new subsidiary will enable us to develop mobility solutions to address the rapidly changing transportation challenges of an increasingly crowded world.”
Reporting to Mark Fields, Hackett, as chairman of Ford Smart Mobility LLC, will lead a team of business and technology leaders from inside and outside the company.
Hackett: Consumer-Focused, Transformational Leader
As a consumer-focused, visionary leader in the office furniture industry, Hackett is credited with expanding Steelcase’s business model and becoming a global innovator. During his 30 years there, he helped transform the company from a traditional office furniture manufacturer to a company that would change the way people work. This included predicting that the office landscape would shift away from cubicles to an open space environment, giving employees the flexibility to work where they want.
“I am absolutely thrilled to lead Ford’s mobility business into the future,” said Hackett. “Transportation in the world today is on the cusp of a major revolution, and Ford plans to lead the way by changing the way the world moves through Ford Smart Mobility.”
A member of the Ford Motor Company Board of Directors since 2013, Hackett served on the Audit, Sustainability and Innovation, and Nominating and Governance committees. He resigned from the Ford Board effective March 10 to join Ford Smart Mobility LLC.
Ford Smart Mobility: Changing the Way the World Moves
The world is becoming more crowded and urbanized, air quality is a global issue, and customer preferences are changing rapidly. The Ford Smart Mobility plan was established early last year to use technology and innovation to address these trends and to make people’s lives better. Already, significant progress has been made, including:
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, as well as connected services. Additionally, Ford is establishing leadership positions in mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 176,000 people worldwide. More information about the company, its products and Ford Credit is available at corporate.ford.com.