Join our Waitlist for Expert Advice!

Ford Appoints New CEO To Strengthen Its Market Position In China Chen is rejoining Ford as new president and chief executive officer to focus on driving sustainable value creation

By Nidhi Singh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Vytautas Kielaitis | Shutterstock.com

The Chinese automobile industry is flourishing, thanks to domestic manufacturers that are continuously making efforts to preserve the title of world's biggest auto market.

A 2018 report titled "China's Auto Revolution" by ResearchAndMarkets.com says that China is poised to emerge as a major auto exporter, shaking up the global auto market.

Virtually every major global automaker has set up shop in China. These automakers are producing vehicles for both the domestic Chinese market and well as for exports to international markets, the report adds.

Now the American car giant Ford Motor Company is upping its game in the China's huge car market. The company announced that it is reorganizing its Asia Pacific operations to accelerate a return to profitable growth. As part of those actions, Ford China has established a stand-alone business unit reporting to Ford global headquarters.

"Success in China is critical as we reposition our global business for long-term success. With today's actions, we are strengthening our commitment to the China market and reorganizing our international markets to strengthen their performance," said Jim Hackett, Ford president and chief executive officer.

Reshuffling Operational Structure In APAC

In addition, Ford has also announced the hiring of Anning Chen as new president and chief executive officer for China operations. Chen, an experienced auto executive with a strong track record in China, is rejoining Ford to focus on driving sustainable value creation. Prior to this position, Chen served as CEO, Chery Automobile, Ltd. and Chairman of the Board of Directors, Chery Jaguar Land Rover, Automotive, China.

Peter Fleet, president, Ford Asia Pacific, will facilitate the transition of Chen into his new position as leader of the Ford operations in China. Fleet will also oversee the establishment of a new International Markets business unit, which will initially be comprised of Ford's existing Asia Pacific businesses outside of China and other markets globally which will be subject of a future announcement.

Building New Focus In China

The moves are designed to accelerate company's return to profitable growth in China, the world's largest vehicle market and a key pillar of Ford's global strategy. Creating a Ford China business unit will allow for greater focus on the market, faster decision making and increased Chinese leadership within the company.

According to Ford's president of global markets, Jim Farley, China is absolutely essential to Ford's profitability and growth.

"As the largest vehicle market in the world, China commands its own leadership and focus. As we transition China to a stand-alone business unit, led by an experienced and talented Chinese business leader, we are able to become more fit as a business, increase our decision-making speed and be closer to our customers," he added.

Nidhi Singh

Former Correspondent, Entrepreneur Asia-Pacific

A self confessed Bollywood Lover, Travel junkie and Food Evangelist.I like travelling and I believe it is very important to take ones mind off the daily monotony .

Starting a Business

She Started a Business With $300 After Getting Laid Off. It Made $300,000 in Year 1 and Became a Multimillion-Dollar Company.

Bobbie Racette wanted to revamp the virtual assistance space — and provide job opportunities for underrepresented communities at the same time.

Leadership

'What, Like It's Hard?': This Brand-Builder Uses a Marketing Secret to Increase Voter Turnout. It's Working for 2 Million People — and Counting.

Mandana Dayani, co-founder of I Am a Voter, has been involved with "some version of activism" for as long as she can remember.

Business News

There's a $300,000 Downside to Switching Jobs, According to a New Report

Job hoppers don't fare well when it comes to retirement savings.

Starting a Business

Buying a Business? 3 Secrets to Master the Ownership Transition With Ease

Owning a company is no small feat, especially if it's one you just purchased. Here's how to make the transition easy for you, your employees and your clients.

Leadership

Remote Workers Aren't Lazy — They Need Empathy. Here's How to Build Emotional Resilience in a Remote Environment

Given the increasing prevalence of remote work, especially in light of the pandemic, this article delves into the various aspects of working from home, with a particular focus on emotional resilience. It draws from Dr. Emmy E. Werner's pioneering research on resilience and aims to provide guidance to organizational leaders seeking to effectively engage with remote employees by prioritizing empathy and support.

Starting a Business

These Husband-and-Wife Co-Founders Started a Food Brand to Share Chinese Culture — Then a Smart Rebrand Took Their Company to the Next Level

Jennifer Liao of MìLà on starting a food business, amplifying modern Chinese food and using storytelling to grow a brand.