Ford Motor Company (NYSE:F) is struggling to revive its sales in the world’s largest auto market. Recently, the company appointed new CEO to handle its operations in China to turn around the dropping sales in the country and fill up the post left vacant by the previous CEO. He left the company abruptly at the start of this year. As per the statement from the U.S. carmaker, its former executive, Anning Chen will take over as the new chief executive officer and the Ford China president.
Chen takes over as CEO of Ford in world’s largest auto market
The last CEO at the Blue Oval, Jason Luo resigned working only for six months citing unspecified personal reasons. For the last 10 months, the president of Asia Pacific operations of Ford, Peter Fleet assumed the responsibilities of China CEO. The company wants to elevate Ford China as the stand-alone business unit reporting directly to the global headquarters.
Fleet will head the new international Markets business unit. It comprises of Asia Pacific businesses of the company outside China. From now onwards, Ford China will cater to all the business in the world’s largest auto market of the country headed by 57-year-old Chen. He will directly report to the Ford president of global markets, Jim Farley.
CEO of the company, Jim Hackett wants to push the growth of his executive team and the company in China. The hiring of Chen as the Ford China CEO seems to be a part of this strategy as it is the second biggest market of Ford after the United States.
Ford launching new vehicles in China soon
The carmaker suffered huge losses last year in the Chinese market. Right now, it is gearing up to launch several new vehicles to push its leadership in the world’s largest auto market. The company will soon introduce some 90,000 Ford and Lincoln-brand vehicles in China imported from the U.S.
Ford also suffered a major setback recently when the Advertising Standards Authority (ASA) found two of its Ford Mustang cars ads showed driving as a way to release anger. ASA also ruled against Nissan Micra and Fiat ads.