Mark Fields (businessman)
Encyclopedia
Mark Fields is Executive Vice President, Ford Motor Company; President, The Americas and an executive of the Ford Motor Company
. As head of the Americas division, Fields was tapped to develop Ford's "The Way Forward
" plan, an effort to repair the ailing automaker. He reports to Alan Mulally
, the company's CEO.
Fields was born in Brooklyn
, New York
. He grew up in Paramus, New Jersey
,where he attended Paramus High School
, and holds an economics degree from Rutgers University
. He worked for IBM
prior to attaining an MBA at Harvard Graduate School of Business
. He was recruited by Ford in 1989 and moved up the ranks, becoming the youngest person (at 38) ever to run a major Japanese company when Ford placed him in charge of Mazda Motor Corporation in 1998. In 2002, Fields became chairman of the Premier Automotive Group
, Ford's luxury unit which at the time included Aston Martin
, Jaguar
, Land Rover
and Volvo Cars
. He returned to the United States to head the Americas division of the company in October 2005.
In a December 14, 2006, announcement made by Alan Mulally (Chief Executive of Ford Motor Company), Mark Fields, at 45, was named business unit chief of Ford Motor Company's Americas operations. This is an attempt to make the company leaner and more centrally driven in areas such as product development, purchasing and engineering. The announcement was published by Reuters
on the same date.
revealed that Fields was using company jets as part of his employment contract to commute to his home in Florida at a cost of $50,000 a week, while at the same time eliminating tens of thousands of jobs at the troubled automaker. The reports caused a firestorm of controversy among Ford employees and dealers, and received significant media attention. In January 2007, Fields announced he would instead fly home on a commercial carrier.
Ford Motor Company
Ford Motor Company is an American multinational automaker based in Dearborn, Michigan, a suburb of Detroit. The automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford and Lincoln brands, Ford also owns a small stake in Mazda in Japan and Aston Martin in the UK...
. As head of the Americas division, Fields was tapped to develop Ford's "The Way Forward
The Way Forward
Ford Motor Company's restructuring plan, made public in 2006, is known as The Way Forward.Ford is attempting to reduce fixed capital costs while maintaining a special focus on cars and car-based crossover vehicles. Over time, it hopes to make more of its product line profitable instead of relying...
" plan, an effort to repair the ailing automaker. He reports to Alan Mulally
Alan Mulally
Alan Roger Mulally is an American engineer and business executive who is currently the President and Chief Executive Officer of the Ford Motor Company...
, the company's CEO.
Fields was born in Brooklyn
Brooklyn
Brooklyn is the most populous of New York City's five boroughs, with nearly 2.6 million residents, and the second-largest in area. Since 1896, Brooklyn has had the same boundaries as Kings County, which is now the most populous county in New York State and the second-most densely populated...
, New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
. He grew up in Paramus, New Jersey
Paramus, New Jersey
Paramus is a borough in Bergen County, New Jersey, United States. As of the 2010 United States Census, the borough population was 26,342. A suburb of New York City, Paramus is located between 15–20 miles northwest of Midtown Manhattan and approximately west of Upper Manhattan.Paramus is one of...
,where he attended Paramus High School
Paramus High School
Paramus High School is an American four-year comprehensive public high school, located in Paramus, New Jersey, operating as part of the Paramus Public Schools...
, and holds an economics degree from Rutgers University
Rutgers University
Rutgers, The State University of New Jersey , is the largest institution for higher education in New Jersey, United States. It was originally chartered as Queen's College in 1766. It is the eighth-oldest college in the United States and one of the nine Colonial colleges founded before the American...
. He worked for IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
prior to attaining an MBA at Harvard Graduate School of Business
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
. He was recruited by Ford in 1989 and moved up the ranks, becoming the youngest person (at 38) ever to run a major Japanese company when Ford placed him in charge of Mazda Motor Corporation in 1998. In 2002, Fields became chairman of the Premier Automotive Group
Premier Automotive Group
The Premier Automotive Group , was a group within the Ford Motor Company which was formed in 1999 to oversee the business operations of Ford's high-end automotive marques....
, Ford's luxury unit which at the time included Aston Martin
Aston Martin
Aston Martin Lagonda Limited is a British manufacturer of luxury sports cars, based in Gaydon, Warwickshire. The company name is derived from the name of one of the company's founders, Lionel Martin, and from the Aston Hill speed hillclimb near Aston Clinton in Buckinghamshire...
, Jaguar
Jaguar (car)
Jaguar Cars Ltd, known simply as Jaguar , is a British luxury car manufacturer, headquartered in Whitley, Coventry, England. It is part of the Jaguar Land Rover business, a subsidiary of the Indian company Tata Motors....
, Land Rover
Land Rover
Land Rover is a British car manufacturer with its headquarters in Gaydon, Warwickshire, United Kingdom which specialises in four-wheel-drive vehicles. It is owned by the Indian company Tata Motors, forming part of their Jaguar Land Rover group...
and Volvo Cars
Volvo Cars
Volvo Car Corporation, or Volvo Personvagnar AB, is a Swedish automobile manufacturer founded in 1927, in Gothenburg, Sweden. It is owned by Zhejiang Geely Holding Group. Volvo was originally formed as a subsidiary company to the ball bearing maker SKF. When Volvo AB was introduced on the Swedish...
. He returned to the United States to head the Americas division of the company in October 2005.
In a December 14, 2006, announcement made by Alan Mulally (Chief Executive of Ford Motor Company), Mark Fields, at 45, was named business unit chief of Ford Motor Company's Americas operations. This is an attempt to make the company leaner and more centrally driven in areas such as product development, purchasing and engineering. The announcement was published by Reuters
Reuters
Reuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provider of financial market data...
on the same date.
Jet controversy
In November 2006, a series of reports by WXYZ-TVWXYZ-TV
WXYZ-TV, channel 7, is an ABC-affiliated television station in Detroit, Michigan, USA. WXYZ-TV is owned by the E.W. Scripps Company, and is the media company's largest-market TV station property...
revealed that Fields was using company jets as part of his employment contract to commute to his home in Florida at a cost of $50,000 a week, while at the same time eliminating tens of thousands of jobs at the troubled automaker. The reports caused a firestorm of controversy among Ford employees and dealers, and received significant media attention. In January 2007, Fields announced he would instead fly home on a commercial carrier.