Ford CEO Jim Farley revealed on Thursday costly lessons learned since taking the helm in October 2020 and that the company has forfeited big profits with its slow response to fixing quality problems.
"I think we all have regrets. That's a big one for me. It's a humbling thing," he said during an interview in front of analysts at the Wolfe Research Global Auto Conference in New York.
"The capability atrophied in engineering, supply chain and manufacturing at Ford," Farley said. "(CFO) John (Lawler) and I talk about this every day, needed a much more fundamental reset than I had realized."
Read Article