#209 Former President & CEO Ford, Mark Fields: All Cylinders

Sep 23, 2024

Mark Fields, former president and CEO of Ford Motor Company, shares his unique journey in the automotive industry. He candidly discusses the challenges of leading Ford during economic downturns and the impact of his family dynamics while commuting. Fields reflects on his transition to retirement, emphasizing purpose and connection after leadership. He also dives into the complexities of the electric vehicle shift and the strategic efforts behind Ford's Le Mans legacy, highlighting both successes and lessons learned in a rapidly evolving market.

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Intro

00:00 • 4min

Navigating the Auto Industry's Turbulence

03:57 • 8min

Embracing Challenges: A Journey of Growth

11:42 • 22min

Navigating Life After Leadership

33:52 • 10min

Navigating Leadership Challenges

44:20 • 14min

Navigating Ambition and Market Expectations

58:32 • 3min

Navigating the EV Transition: Consumer Needs and Industry Challenges

01:01:11 • 4min

Ford's Le Mans Legacy

01:04:51 • 10min

Guest: Mark Fields, former president & CEO of Ford Motor Company and chairperson at Planview

In 2005, Mark Fields was asked to run the Americas for the Ford Motor Company, a role he would serve in for 7 years, later becoming COO and then CEO. His wife and kids were used to relocating for Mark’s job, but had just put down roots in Florida. He told them that this time, they should stay put — he would commute between Florida and Detroit every week, and call home for an hour every night.

“I probably communicated more with [my wife] because we were apart, than if I was there,” Mark says. “Because if I was there, I'd come home for dinner, we'd spend a little bit of time together, I'd grunt at her, and then I'd go back to my emails, and ignore the kids. Whereas, by being away, I actually had really focused time every day to talk.”

Chapters:

(01:01) - The auto business in ‘89
(05:27) - The business now
(08:47) - Ford vs. Trump
(11:44) - Becoming a leader
(17:35) - The next chapter
(20:01) - Relocating the family
(24:45) - Bring the kids to work
(29:19) - “You have one life”
(33:52) - Ego and purpose
(42:06) - Retirement adrenaline
(45:10) - Leading with passion
(48:06) - Avoiding bankruptcy
(52:55) - Grading Mark’s CEO years
(55:12) - The board
(58:32) - Electric vehicles
(01:04:50) - 24 Hours of Le Mans
(01:11:36) - Selling a $580,000 car

Mentioned in this episode: Harvard Business School, Ronald Reagan, Toyota, Nissan, Honda, CNBC, Volkswagen, American Icon, Donald Trump, Rutgers University, Mazda, Hertz, the Range Rover, Michigan University and Michigan Stadium, Mamoon Hamid, work/life balance, Mark McLaughlin and Palo Alto Networks, the Great Recession, GM, Chrysler, the North American International Auto Show, Bill Ford, Argo AI, Chariot, autonomous vehicles, Ford v Ferrari, Enzo Ferrari, the Ford GT, Jaguar Racing, and De Beers.

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This episode was edited by Eric Johnson from LightningPod.fm