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The Dearborn Plot Thickens - London Times Reports That Bill Ford "Wants Nasser Out"

A story by David Parsley published in yesterdays Sunday Times revealed that BILL FORD, chairman of the company bearing his family name, is plotting to remove Jac Nasser as Ford's chief executive after the strategic review of the group is completed in November.

Parsley said that sources at Ford say its chairman, the great-grandson of founder Henry Ford, "plans to back Nick Scheele, former chairman of Ford Europe and now president of Ford North America, for the top job." and went on to report that "if Ford is successful in removing Nasser, Scheele would become one of the most powerful men in the motor industry and the most senior British executive in the business."

In our opinion Bill Ford has already taken direct control of the company when just a few weeks ago he and Nasser (what choice did Jac have?) created an "office of chairman and chief executive" to manage the company out of its travails.

Just a year ago the company was celebrating a huge success after becoming America's most profitable and best-run carmaker. Since then it has been beset with problems, including poor product launches and falling productivity.

Parsley thinks that the main reason why Bill Ford is thought to have turned against Nasser is because of the questions over the safety of its best-selling sports utility vehicle, the Explorer, and the $3 billion recall of 13 million Firestone Tires.

The Times stated that the chairman has privately told some senior managers that he believes Nasser should go once the review and Firestone issue are settled. Another senior Ford executive was quoted as saying "This may be how Bill feels but I don't think he'd get many to back him. Jac is a tough man but he is well respected in Detroit. The Firestone situation is very difficult but should Jac carry the can for it? I don't think so."

Stay tuned for the next episode of " How Dearborn Turns"