It’s so lovely to see the continuing carnage at Ford (NYSE: F) this week – I really am pleased.
The appointment of a new CEO at the Detroit based automaker was brought about by a realisation by the board that outgoing CEO Mark Fields was not going to turn around Ford’s fortunes.
The markets seemed to have liked the appointment raising the share price by more than two percent on Monday.
Field’s abrupt exit should not bother him too much since his pay deal last year was worth $22 million and his payoff is worth $14.3m.
We need to speed up our decision-making, we need to invest our capital where we can create value, and we have to move decisively to address underperforming areas
Bill Ford, Executive Chairman, great-grandson of the company’s founder Henry Ford
You see the reason why all this is relevant is not long ago on this website I made the observation that Ford is on the watch list and that I’m eyeing a stock price of $7.50 a share as a price at which to start buying stock.
Let me know if I’m being too greedy for wanting to wait for such a lower stock price before getting in as things can change very quickly in the stock market.