One of the many traditional automotive companies that is pivoting into the growing field of electric vehicles is Ford Motor Company F. That push into electric vehicles and new growth efforts is led by CEO Jim Farley, who took the reins in late 2020.
What Happened: On October 1, 2020, Farley became the 11th CEO in Ford’s 117-year history.
In his first week leading the company, he outlined a plan to turn the company around and improve its financials.
“Turn around automotive operations; allocate capital to Ford’s strongest franchises and high-growth opportunities; produce compelling, uniquely Ford electric vehicles at scale; and stand up new AV-enabled businesses,” Farley said to employees at the time.
Farley succeeded Jim Hackett and was seen by many as the right fit for the job as a “car guy” and not just a businessman.
Related Link: 5 Things You Might Not Know About Ford CEO Jim Farley
Investing $1,000 in Ford: On October 1, 2020, when Farley took over, Ford shares hit a high of $6.77.
A $1,000 investment in the automotive company could have purchased 147.71 shares of Ford. The $1,000 investment would be worth $2,011.81 today.
It represents a return of 101.2% in around a year and a half.
Ford shares hit a 52-week high of $25.87 in January 2022. The same $1,000 investment would have been worth $3,821.26 at the time.
Photo: Courtesy of Ford Asia Pacific on Flickr
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