Ford Motor Co. should replace Chief Executive Officer William Clay Ford Jr. because he hasn't shown that his recovery plan will succeed, analysts and investors surveyed by Bloomberg News said.
``He should step aside as CEO and make room for somebody,'' said Brett Hoselton, an analyst at KeyBanc Capital Markets in Cleveland, said. ``He's not been able to turn this company around, and we don't see anything in the future that suggests we're going to see any dramatic changes going forward, either.''
Analysts are raising questions about Bill Ford's future in an operating position as the company prepares for further cutbacks following a $1.44 billion net loss in 2006's first half. Ford Motor said in January that it planned to cut as many as 30,000 jobs and close 14 plants in North America. Six months later, the world's third-largest automaker said it needed to speed up job reductions and take additional steps that haven't yet been specified.
In an interview with Business Week magazine last week, Bill Ford, 49, was asked whether he was the right person to fix the company founded by his great-grandfather more than 100 years ago. ``I'll always look at talent that can help us move forward,'' he said. ``We need somebody, and I'm that somebody right now.''
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