Ford showed focus, speed and accountability in producing solid second-quarter 2023 operating results, while taking strategic actions that are expected to help create a high-performing business and long-term value for all stakeholders.

Two Ford corporate officers have announced plans to retire after accomplished three-decade careers; a highly regarded executive is returning to the auto industry to lead the company’s global supply chain operations; and a Ford Blue executive is departing to become chief executive officer of a major transportation and logistics business.

Less than two quarters into full deployment, the teams behind the Ford+ growth plan’s new customer-centered business segments are redefining customer value, while at the same time reducing cyclicality, improving capital efficiency, and generating profitable growth and strong free cash flow.

According to Ford CEO Jim Farley, the first quarter of organizing around and running the company on behalf of distinct customer groups produced solid operating results and a glimpse of the promise of its Ford+ growth plan.

Ford today will walk investors, analysts and others through how the company is now organized and operating – and will report financial results – based on three new global business segments that are focused on different automotive customers, rather than by geographic regions.

Ford to provide, with customer consent, connected vehicle data, helping drive innovation and accurate policymaking for U.S. insurance providers and their customers.

Brian Schaaf, chief financial officer, treasurer and executive vice president, Strategy, of Ford Motor Credit Company, has elected to retire, effective Dec. 1, after a 33-year career at Ford Motor Company and Ford Credit. Eliane Okamura was named to succeed Schaaf, effective Dec. 1.

Ford again affirmed its expectation for full-year 2022 adjusted earnings before interest and taxes of between $11.5 billion to $12.5 billion, despite limits on availability of certain parts as well as higher payments made to suppliers to account for the effects of inflation.

Building on strong demand for its new EVs, Ford today announced a series of initiatives for sourcing battery capacity and raw materials that light a clear path to reach its targeted annual run rate of 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026.

Ford in Europe today announced another important stride toward an all-electric future, confirming that it has chosen its plant in Valencia, Spain, as the preferred site to assemble vehicles based on a next-generation electric vehicle architecture.