MCG Executive Briefing for June 28, 2013

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Executive Chairman Bill Ford, Jr. recently bought the oldest Ford car in existence, this 1903 Model A. Now he’s doubled his investment in the company as well, buying another 3.68 million Class B shares. Get all this car biz news and more in the Executive Briefing.

 

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+   Nissan is adding 900 employees at its Smyrna, Tennessee plant to build the Rogue crossover SUV. More here at the Miami Herald.

+   General Motors executive Walter G. Borst becomes the new CFO and vice president at truck maker Navistar International effective August 1. More here at Yahoo! Finance.

+   Ford Chairman William Clay Ford, Jr. has purchased 3.68 million more shares of the company’s family-only Class B stock, nearly doubling his stake. More here at the Detroit Free Press. 

+   Renault and partner Nissan reported that their 14-year old alliance generated a record cost savings of $3.5 billion in 2012. More here at The Detroit News.

+   Mark Webber is departing Red Bull and the Formula 1 circus to drive for the new Porsche LeMans prototype program in 2014. More here at Motor Authority.

+   Peugeot’s founding family is prepared to step aside to make room at PSA Peugeot Citroen for GM involvement. More here at Reuters.

+   Toyota president Akio Toyoda is the lowest-paid CEO among the major automakers, collecting one-tenth the earnings of some other executives. More here at Bloomberg.com.

 +   Television analyst and retired NASCAR driver Kyle Petty said in an interview that Danica Patrick “is not a race car driver.” More here at USA Today.

For the previous Executive Briefing June 24, click here. 


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2 thoughts on “MCG Executive Briefing for June 28, 2013”

  1. How unfortunate that as Bill Ford increases ownership in his family’s company, another family with an older legacy is stepping aside. Ironically, so that the original faceless motor company can move in. Ford wasn’t a great CEO, but he and his family continue to make a positive contribution to the company’s future and its legacy.

    Interesting also that Akio Toyoda, the only other family-involved automaker, has the lowest salary and the biggest sales.

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