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Ford COO Mark Fields on his transition and how the company plans to turn around losses in Europe.
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-- clo of Ford good morning Jeff.
Thank -- morning to you normally would like to crawl over the new Carson show you all the exciting things we got something more exciting than a new car but the we've got -- -- executive.
Our old friend mark fields on the job for.
Six weeks I think that's my count as chief operating officer yup that you you know your dates that's very six weeks and counting -- but I.
That's what you make at this bar.
And I'm gonna ask the reporter's question that's the worst reporter's question the world and that is how does it feel.
-- feels fantastic -- -- I'm I'm so honored to take this position for the company.
And with -- being able to work side by side -- -- continue to learn from him it's it's it's just fantastic.
That's tempting question is who's in charge here and I I suspect you'll say Alan Mulally still in charge well Allen is the CEO and he's focusing more on the strategic development of our -- And and strategy.
On focusing on the day to day operations and it's just it's just it's a wonderful combination and I just feel so honored to be able to be able to do that with them.
You're doing the heavy lifting you do look very relaxed you don't look -- -- craze it's only January foot fourteenth that back up.
To talk about the challenges you've got let's talk about a positive first and now I can ask you about all these things like stock dividends and all the rest.
Just increased your stock dividend doubled it actually.
That's a since a real positive message to Wall Street what message he tries to -- the -- -- trying to send it is our one Ford plan is working.
As part of our plan around profitable growth -- and part of that is giving back to the shareholders.
We had a strong year in 2012 for the first nine months strong year we've had record.
Operating margins in record profits here in North America.
Total company in the third quarter we had record pretax.
Total company and automotive and we had a great sales here.
RF series number one again in the market place.
Focus number one around the world in growth in China.
OK now the challenges.
You know I've never seen more competition I don't know you've been in this business a long time.
I've never seen more competition we just came from the -- And Corvette unveil.
It's out there everywhere.
And -- deal with -- well I think you stay focused on our plan our plan very simple -- to focus on great products.
Great customer satisfaction.
And great quality.
And great fuel efficiency in our products and that's the things that -- -- every day we walk through -- kind of interest in every year we say you know the competition is getting more intense.
There's never been a year we -- you know want.
Competition is taking a breather this year so so -- although maybe 20082009.
There I think everybody got a took a breather inference that way the question where you are or are just as hard as ever.
The challenges.
-- recalls on the focus and the escape.
Where do you stand with.
While while we've we've -- majority the repairs and arc arc -- commitment is to absolutely provide customers the best quality product give -- a car.
-- right exactly and when we see issues are other commitments make sure we act decisively.
To correct those for customers so I think we've we've.
Handle a lot of the issues around -- were moving on you worked for Ford all around the world.
But now you've been focused on the America's obviously for the last several years now you get -- focus on things like Europe as well.
How much money what you lose in Europe everybody's losing money in Europe how much -- you lose this year and where does that turn around their -- Well in Europe as you know we've announced -- comprehensive plan to accelerate the transformation of our business.
We said in earnings in the third quarter that we would lose an excessive about a million and a half dollars and in Europe this here in north -- about the same amount next year.
But you know we're very focused on new products were very focused on strengthening our brand.
And very focused on increasing our cost efficiencies in the region for what is a tough market that we have a plan -- team is working it and I think that's very positive for.
Force lastly.
The famous Thursday meetings that Alan initiated.
And you actually famously.
What the first one to say he would ask if there's anybody got a problem nobody wants there was a problem -- you said I -- problem.
How does it -- be running those -- Well it's it's anybody have a problem by -- -- it's it's a great safe environment where the whole team can come together we can review our plan.
People can put issues on the table and then we can help each other.
And it's fantastic -- -- I feel honored.
To take this position for the company be able to run those meetings Alan is right next to me.
And he's helping provide ministership strategic guidance consistency for the team.
And we're just gonna stay very focused on delivering the same one -- plan.
Tomorrow gonna talk about the cars.
-- -- -- -- F 150 -- they're gonna be a sneak peek -- something in the F 150 Baltimore were showing our commercial.
Vans and we're gonna focus on commercial trucks.
But come to our press conference tomorrow.
Mark fields that given too much away.
And he's got at all Diane.
-- right Jeff black solid state daddy Jeff and we think Marc -- is well.
