As the Ford+ plan for growth and value creation promises new capabilities and scale in zero-emission electric vehicles, connectivity and innovative services, the vehicle maker is putting muscle behind them.
As part of this initiative, the company brings in a new senior leader with significant mergers-and-acquisitions experience to help execute the strategy.
The OEM has recently roped in corporate M&A veteran Doug Power to the newly created position of Vice President, Corporate Development.
Power’s focal point is to further enhance Ford’s leadership in the electrification revolution in personal and commercial transportation. Ford has committed to investing more than $30 billion in electric vehicles through 2025, an amount that will continue to increase over time.
He and his team are charged with developing, sustaining and carrying out an ambitious master plan for strategic acquisitions and investments on behalf of Ford’s Industrial, Technology and Software, new businesses platforms and customer-focused business units.
David McClelland, Vice President, Strategy and Partnerships, Ford, said that the company’s expertise in electrification and connected vehicles is substantial but will need to grow exponentially to create and maintain a clear competitive advantage. “Doug and his team are bringing skill and disciplined urgency to how we approach M&A and will see things through to their strategic outcome,” McClelland added.
Ford +
As the Ford+ plan for growth and value creation promises new capabilities and scale in zero-emission electric vehicles, connectivity and innovative services, the vehicle maker is putting muscle behind them.
As part of this initiative, the company brings in a new senior leader with significant mergers-and-acquisitions experience to help execute the strategy.
The OEM has recently roped in corporate M&A veteran Doug Power to the newly created position of Vice President, Corporate Development.
Power’s focal point is to further enhance Ford’s leadership in the electrification revolution in personal and commercial transportation. Ford has committed to investing more than $30 billion in electric vehicles through 2025, an amount that will continue to increase over time.
He and his team are charged with developing, sustaining and carrying out an ambitious master plan for strategic acquisitions and investments on behalf of Ford’s Industrial, Technology and Software, new businesses platforms and customer-focused business units.
David McClelland, Vice President, Strategy and Partnerships, Ford, said that the company’s expertise in electrification and connected vehicles is substantial but will need to grow exponentially to create and maintain a clear competitive advantage. “Doug and his team are bringing skill and disciplined urgency to how we approach M&A and will see things through to their strategic outcome,” McClelland added.