Ford Motor Company is merging its electric vehicle, digital, design, and global industrial teams into a single Product Creation and Industrialization organization. Chief Operating Officer Kumar Galhotra will lead the new end-to-end group.
The restructuring advances the Ford+ strategy by streamlining decision-making and reducing operational complexity. Doug Field, the Chief EV, Digital, and Design Officer, will leave the company as part of these changes.
Ford targets an 8% adjusted EBIT margin by 2029. Ford shares rose 0.24% in premarket trading following the announcement.