Ford Appoints Toyota Executive As Marketing Head To Boost Its Transition To EVs
Portfolio Pulse from Shivani Kumaresan
Ford Motor Co has appointed Lisa Materazzo, a Toyota Motor Corporation executive, as its new global chief marketing officer. The move comes as Ford faces a slower-than-expected and costly shift toward electrification of its vehicle portfolio. Ford has been trying to capture the EV market by channeling funds from its traditional combustion engine auto business to its EV transition business. The company's dismal demand growth for EVs led to a fall in shares this summer, despite an increase in FY23 guidance.
September 13, 2023 | 1:14 pm
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Ford's appointment of a Toyota executive as its new global chief marketing officer is part of its strategy to boost its transition to EVs. However, the company's slower-than-expected shift toward electrification and dismal demand growth for EVs led to a fall in shares.
The appointment of a new marketing head from Toyota, a company known for its successful transition to EVs, is a strategic move by Ford to boost its own transition. However, the slower-than-expected shift and the dismal demand growth for EVs have negatively impacted Ford's shares. This suggests that investors are not confident in Ford's ability to successfully transition to EVs in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Toyota executive Lisa Materazzo has been appointed as the new global chief marketing officer of Ford. This move could potentially impact Toyota's marketing strategies.
The departure of Lisa Materazzo, a long-time Toyota executive, could potentially impact Toyota's marketing strategies. However, the extent of this impact is uncertain and will depend on how Toyota fills this role.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50