DEARBORN, MI – Ford Motor Co . (NYSE:F) disclosed in a regulatory filing that Peter C. Stern, President of Ford Integrated Services, has decided to resign to pursue a new opportunity. The announcement, filed on Thursday, October 31, 2024, stated that Stern will continue to provide transition services until his departure effective December 15, 2024.
Following Stern's resignation, Michael R. Amend, currently serving as Ford's Chief Enterprise Technology Officer, will take on an additional role as the interim leader of Ford Integrated Services. The company has not yet named a permanent replacement for Stern.
The departure comes at a time when the automotive industry is undergoing significant changes, with companies like Ford navigating challenges such as supply chain disruptions and the shift towards electric vehicles. Stern has been a part of Ford's efforts to adapt to these industry shifts, and his resignation may lead to a period of transition for the company's Integrated Services division.
The information provided in this article is based on a press release statement from Ford Motor Co., as reported to the Securities and Exchange Commission.
InvestingPro Insights
As Ford Motor Co. navigates this leadership transition, InvestingPro data provides additional context for investors. Despite recent challenges, Ford maintains a significant market presence with a market capitalization of $41.61 billion. The company's P/E ratio of 11.85 suggests a relatively modest valuation compared to some industry peers.
Ford's financial performance remains noteworthy, with revenue reaching $182.74 billion over the last twelve months as of Q3 2024, representing a 4.89% growth. However, the company faces some headwinds, as evidenced by an InvestingPro Tip indicating that 8 analysts have revised their earnings downwards for the upcoming period.
On a positive note, Ford continues to reward shareholders, with an InvestingPro Tip highlighting that the company "Pays a significant dividend to shareholders." This is further supported by an impressive dividend yield of 7.45% and a 30% dividend growth over the last twelve months. Ford's commitment to shareholder returns is underscored by its 13-year streak of maintaining dividend payments.
As the company addresses the leadership change in its Integrated Services division, these financial metrics and insights from InvestingPro could provide valuable context for assessing Ford's stability and future prospects. Investors seeking a more comprehensive analysis can access additional tips and data through the InvestingPro product, which offers 9 more tips for Ford.
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