Shanghai (Gasgoo)- Ford Motor Company ("Ford Motor") announced on Feb. 7 that Sam Wu, currently serving as Vice President of Ford Motor as well as President and Chief Executive Officer (CEO) of Ford China, will, in addition to his current responsibilities, assume oversight of Ford Motor's International Markets Group ("IMG"). Jeff Marentic, head of IMG, will now report directly to Mr. Wu.
Ford Motor's President and Chief Executive Officer Jim Farley stated, "Ford Motor is relentlessly accelerating the Ford+ initiative. We are committed to building a high-performing, mission-driven management team to achieve our business goals. In today's rapidly changing and fiercely competitive market, we are transforming Ford Motor into a company that achieves higher growth, greater profitability, and more sustainable development.”
Sam Wu joined Ford Motor Company on October 1, 2022, as the managing director and Chief Operating Officer of Ford China., and was promoted to President and CEO in March 2023. He subsequently introduced a new business strategy for Ford China that focuses on core areas of competitive strength, leverages the advantages of Ford Motor's iconic products to deliver superior customer experiences, collaborates with China's industrial chain to develop localized new energy models to accelerate electrification, and expands the complete vehicle export business to offer high-quality automobiles to global customers.
Following the launch of this strategy, Ford China quickly returned to profitability in the third quarter of 2023 and went on to record six consecutive profitable quarters, and then in 2024, achieved its first full-year profit for the past seven years. Ford China exported nearly 170,000 vehicles last year—a year-on-year surge of over 60%—with Southeast Asia, the Middle East, and South America emerging as its primary export markets.
Additionally, a new energy vehicle product developed in collaboration with Chinese industry partners is expected to debut later this year. Ford Motor is also increasing investments in digital and intelligent talent and capability building, with plans to leverage China's experience and products on a global scale.
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