Ford's better idea: Fewer meetings
In an effort to increase efficiency, CEO Bill Ford is eliminating several regularly scheduled get-togethers and restricting participation.
NEW YORK (CNNMoney.com) - To get Ford Motor up to speed again, Chairman and CEO Bill Ford Jr. is cutting back on unnecessary chatter. In a memo sent to all corporate officers and senior executives, Ford said he is moving to limit the number of upper-level meetings held each month in the company's Dearborn, Mich., headquarters and restricting participation to those managers whose presence is absolutely necessary, according to the Detroit News Tuesday.
"We must evaluate our schedules to make certain we and our teams are focused on our most essential business objectives while letting go the tasks that have no bearing on our company's success," Ford said in the memo, according to the paper. "Likewise, you and your teams should look at how your time is spent. Meetings that are held for the infamous 'management entertainment,' attended out of fear of not being seen, or scheduled simply because 'that's the way we've always done it' need to go," he added. "Meetings worth our time are those that help us move quicker, break through bureaucracy and drive decision-making to the appropriate levels throughout the organization." The change may also mean Ford is becoming increasingly involved in the day-to-day operations of the company, the paper said citing sources in the company. "I will attend more of these meetings than in the past," Ford said in the memo. "These are difficult times and we have much work to do but I remain confident in our ability to rebound." Bill Ford took over as CEO in 2001 and has struggled to stop Ford's loss of market share in North America and restore the automaker's domestic operations to profitability. The company was not immediately available for comment. Shares of Ford Motor (down $0.07 to $6.70, Research) edged lower in early trade Tuesday. ---------------------- Related: Will Ford's turnaround plan work? |
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