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FB Roundup: Exor, Ford Motor Company, Daily Mail and General Trust

October 4, 2021

Agnelli family’s Exor unites Ferrari with former Apple designer Sir Jony Ive, Alexandra Ford English in driving seat of global Ford merchandising, Extra time for Rothermere bid to take Daily Mail trust private.

Agnelli family’s Exor unites Ferrari with former Apple designer Sir Jony Ive

John Elkann, the Agnelli family scion in control of Ferrari, anticipates “great things” from a new long-term collaboration with Sir Jony Ive, the design mastermind of Apple products.

FB Roundup: Adani Group, Maersk, Ford Motor Company

September 27, 2021

Adani doubles green investment pledge of rival Reliance, Maersk makes waves with series of e-commerce deals; the 40-year vindication of Bill Ford, the auto environmentalist.

Adani doubles green investment pledge of rival Reliance

Gautam Adani, India’s second wealthiest tycoon and leader of his infrastructure and energy empire Adani Group, has announced a $20 billion investment in renewable energy only weeks after rival Mukesh Ambani, India’s richest person, committed to producing the green energy hydrogen.

FB Roundup: Medline Industries, Ferrero Group, Ford Motor Company

June 11, 2021

Mills family sells majority Medline stake in $34 billion private equity ‘club deal’, Ferrero takes another bite out of biscuit market with $509 million Burton’s deal, Auto heiress Alexandra Ford English becomes first female Ford director.

Mills family sells majority Medline stake in $34 billion private equity ‘club deal’

The fourth-generation Mills family which owns Medline Industries, the largest US privately held manufacturer and distributor of healthcare supplies, looks set to seal one of the largest private equity deals since the Global Financial Crisis.

FB Roundup: Ford, Walmart, Las Vegas Sands

February 20, 2021

William Clay Ford Jr, the family principal behind the motor giant’s electrification, Record revenue accelerates Walton family’s Walmart strategy, Sheldon Adelson heirs unlikely to gamble on his casino empire’s future.

William Clay Ford Jr, the family principal behind the motor giant’s electrification

The $1 billion electric vehicle transformation by the Ford Motor Company in Europe is a vindication for its fourth-generation executive chairman, William Clay Ford Jr, a lifelong environmentalist.

The $155.9 billion family-controlled automaker announced this week all of its passenger and commercial vehicle ranges in Europe will be zero-emissions capable—all-electric or plug-in hybrid—by 2026, moving to entirely electric by 2030.

FB Roundup: Ford, Rothschild, and Patek Philippe

January 31, 2019

Ford family to keep their hands on the helm, Rothschild family sell last piece of Austrian land after 200 years, and watchmaker Patek Philippe curbs talk of potential sale.

Ford family to keep their hands on the wheel

The Ford family say they have no plans to give up the company that has been under their control for 115 years—despite the automaker entering a strategic partnership with Volkswagen (VW).

During an on stage interview at the North American International Auto Show in Detroit last week, fourth generation chief executive Bill Ford (pictured) said a co-ownership deal between Ford Motor Company and VW “never came up” and was not likely to happen in the future.

FB roundup: Bombardier, Charoen Pokphand, and Volkswagen

November 16, 2018

Bombardier to cut 5000 jobs in restructuring, Thailand conglomerate Charoen Pokphand Group bids for rail project, and Volkswagen in talks with Ford to invest in self-driving unit Argo.

Bombardier to cut 5000 jobs in restructuring

Canadian aerospace giant Bombardier is to cut 5,000 jobs as part of an effort to streamline operations and reduce costs.

Bombardier said the 7% reduction of its workforce over the next 12 to 18 months will save the company about $250 million a year by 2021, with the job cuts mostly coming from the company’s engineering and management ranks.

FB Roundup: Ford, Lotte, and trade tariffs

July 26, 2018

Ford creates new self-drive company, Lotte still sweet for jailed director, and family dynasties uneasy over Trump trade

Ford creates new self-drive company

Ford is to morph its self-driving vehicles arm into its own company, Ford Autonomous Vehicles LLC, investing $4 billion into the venture over the next five years.

It follows a similar move by General Motors, which launched “GM Cruise” late last year. Sherif Marakby, Ford’s vice president autonomous vehicles and electrification, will be chief executive of the new LLC, which is structured to allow third party investors.

Toyota invests $1bn in ride-hailing

June 13, 2018

Toyota has made a billion-dollar investment into the ride-sharing service Grab, in line with chief executive Akio Toyoda’s belief that car-makers need to expand into other areas to survive.

Toyota has made a billion-dollar investment into the ride-sharing service Grab, in line with chief executive Akio Toyoda’s belief that car-makers need to expand into other areas to survive.

It is the biggest investment by a car-maker into ride sharing so far, as the companies invest in various technology firms as a way of coping with the rise of autonomous vehicles and the sharing economy.

FB Roundup: Samsung, Ford, and Redwood

September 1, 2017

Jailing of Samsung heir a message to chaebol, Ford self-drive cars to deliver pizza, and Father-son team launch new bank.

Jailing of Samsung heir a message to chaebol

The jailing of Samsung chief Lee Jae-yong for five years has fuelled public conversation in South Korea about the huge family-owned businesses which dominate the economy.

Samsung heir Lee Jae-yong was sentenced on corruption charges this week following a case dubbed “the trial of the century”, due to the message it sent the country’s massive conglomerates.

Ford prepares one of its smoothest successions to date

May 2, 2014

A change of leadership at Ford Motor Company has been accelerated six months and declared one of the smoothest in the family business’s history, according to the fourth-gen executive chairman.

A change of leadership at Ford Motor Company has been accelerated six months and declared one of the smoothest in the family business’s history, according to the fourth-gen executive chairman.

On Thursday, the US carmaker announced Alan Mulally, 68, who steered the company through the global financial downturn, would be stepping down as chief executive and president on 1 July.

Mark Fields, 53, who has been the company’s chief operating officer since December 2012, will replace him.