Philip Caldwell
Encyclopedia
Philip Caldwell was the first person to run the Ford Motor Company
who was not a member of the Ford family, orchestrated one of the most dramatically successful turnarounds in business history.
, the son of Robert Clyde Caldwell (1882 – 1935), a farmer, and Wilhelmina Hemphill (1881 – 1966). He grew up in South Charleston, Ohio
. Caldwell is a 1940 graduate of Muskingum College
where he majored in economics and was a member of the school's championship debate team. In 1942 he earned a Master of Business Administration
degree from Harvard University
.
Starting at Ford
in 1953, he successively headed truck operations, the Philco
division, and international operations; in the last of these positions he introduced the Ford Fiesta
into Europe
.
Following the firing of Lee Iacocca
in 1978, Caldwell became president of Ford
. On October 1, 1979, Henry Ford II
retired as CEO
and as Chairman of the Board of Directors
in 1980; Caldwell succeeded him in each position.
As Chairman of the Board and CEO Caldwell approved and oversaw the development and launch of the Ford Taurus
(and its corporate sister the Mercury Sable
) which were introduced to the media days before his retirement, thus allowing him to take public credit for the Taurus program, which became one of the biggest successes in automobile business history.
On February 1, 1985, Caldwell retired from Ford
and later accepted a position as senior managing director at Shearson Lehman Brothers in New York
. On September 23, 1985, he was one of 21 new members appointed to the President's Export Council.
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...
who was not a member of the Ford family, orchestrated one of the most dramatically successful turnarounds in business history.
Life and career
Caldwell was born in Bourneville, OhioBourneville, Ohio
Bourneville is a census-designated place in central Twin Township, Ross County, Ohio, United States. Although it is unincorporated, it has a post office, with the ZIP code of 45617. It lies along U.S. Route 50.-References:...
, the son of Robert Clyde Caldwell (1882 – 1935), a farmer, and Wilhelmina Hemphill (1881 – 1966). He grew up in South Charleston, Ohio
South Charleston, Ohio
South Charleston is a village in Clark County, Ohio, United States. The population was 1,850 at the 2000 census. It is part of the Springfield, Ohio Metropolitan Statistical Area.-Geography:South Charleston is located at ....
. Caldwell is a 1940 graduate of Muskingum College
Muskingum College
Muskingum University is a private four-year comprehensive college with a strong liberal arts tradition located in New Concord, Ohio, approximately sixty miles east of the state capital of Columbus. Founded in 1837, Muskingum University is affiliated with the Presbyterian Church , although since the...
where he majored in economics and was a member of the school's championship debate team. In 1942 he earned a Master of Business Administration
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
degree from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
.
Starting at Ford
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...
in 1953, he successively headed truck operations, the Philco
Philco
Philco, the Philadelphia Storage Battery Company , was a pioneer in early battery, radio, and television production as well as former employer of Philo Farnsworth, inventor of cathode ray tube television...
division, and international operations; in the last of these positions he introduced the Ford Fiesta
Ford Fiesta
The Ford Fiesta is a front wheel drive supermini/subcompact manufactured and marketed by Ford Motor Company and built in Europe, Brazil, Argentina, Mexico, Venezuela, China, India, Thailand and South Africa...
into Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
.
Following the firing of Lee Iacocca
Lee Iacocca
Lido Anthony "Lee" Iacocca is an American businessman known for engineering the Mustang, the unsuccessful Ford Pinto, being fired from Ford Motor Company, and his revival of the Chrysler Corporation in the 1980s...
in 1978, Caldwell became president of Ford
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...
. On October 1, 1979, Henry Ford II
Henry Ford II
Henry Ford II , commonly known as "HF2" and "Hank the Deuce", was the son of Edsel Ford and grandson of Henry Ford...
retired as CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
and as Chairman of the Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
in 1980; Caldwell succeeded him in each position.
As Chairman of the Board and CEO Caldwell approved and oversaw the development and launch of the Ford Taurus
First-generation Ford Taurus
The first-generation Ford Taurus is an automobile that was produced by the Ford Motor Company as the first of six generations of the Ford Taurus...
(and its corporate sister the Mercury Sable
Mercury Sable
The Sable was a very important sedan for both Mercury and the American auto industry.Ford had lagged in introducing mid-size front wheel drive cars to compete against General Motors' Chevrolet Citation and its best-selling Chevrolet Celebrity/Pontiac 6000/Oldsmobile Cutlass/Buick Century quartet as...
) which were introduced to the media days before his retirement, thus allowing him to take public credit for the Taurus program, which became one of the biggest successes in automobile business history.
On February 1, 1985, Caldwell retired from Ford
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...
and later accepted a position as senior managing director at Shearson Lehman Brothers in New York
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. On September 23, 1985, he was one of 21 new members appointed to the President's Export Council.