Its "Ford" Not Nasser Motor Company

In a surprise move, Ford Chairman William Clay Ford Jr., the 44-year old great-grandson of the company patriarch Henry Ford has been “asked” by the board to play a more active role in managing the car company…an apparent and most obvious slap at Hired Hand Chief Executive Jacques Nasser.

USA Today quoted John Casesa, Merrill Lynch automotive analyst, as saying; “the move will elevate Ford's role in strategic decision-making, and by implication, reduce Nasser's autonomy."

This move takes place only 3 weeks after it was announced that Ford Europe Chairman Nick Scheele, would be coming to the USA to run the company's North American operations.

Below is the full press release from Ford

Ford Motor Company today announced the formation of the Office of the Chairman and CEO to lead the company into the future. The office will consist of William Clay Ford, Jr., chairman, and Jacques Nasser, president and CEO, and will focus on policy, strategy, key issues affecting the future direction of the company and other major business issues. The structure formalizes the ongoing working relationship between Bill Ford and Jacques Nasser that has been developing since their appointments in January 1999. The purpose of establishing this new structure is to streamline the management process and improve decision-making efficiency. It will give the Chairman and CEO a formal opportunity for an earlier review in policy, strategy and business proposals and will allow the CEO to access input and views at an earlier stage in the development process. "We face challenging times and this new structure allows both Jacques and me to work hand-in-hand to lead the company forward and meet these challenges," Bill Ford said. "We will continue to work together to maintain our strong position in the marketplace." "Bill and I are both looking forward to continuing to provide the strategic direction for the company in every key area of the business." Nasser added. "This new office strengthens our working relationship and allows us to react even more quickly to address the key issues facing the business." The two men will meet regularly, have decision-making authority and invite other members of senior management to attend to discuss issues as needed. The new structure was approved by the Board of Directors and is effective immediately.