The best leaders take the same hits as their employees and stick to the primary values they promised to uphold
When Mark Fields became president of Ford Motor's (F) troubled North American operations in 2005, he quickly announced a turnaround plan called "The Way Forward" that would eliminate 45,000 jobs—more than one-fifth the workforce—and close 14 manufacturing plants. Fields also proposed cutting health-care benefits for the blue-collar workers who remained. He stressed the sense of urgency with his new slogan, "Change or Die," which he posted on the gates of the factories. As part of his case for change, he told Ford's employees that they would have to share the sacrifices to save the company.
But Fields himself didn't share in the sacrifices: For cutting costs so fiercely, Fields was richly rewarded with a $2.3 million bonus that lifted his yearly pay to $5.6 million. Rather than moving to Detroit and becoming a full-fledged member of the community, Fields kept his family in Delray Beach, Fla., and commuted every weekend on the company's private jet. Is there any wonder no one wanted to follow Mark Fields?
See full Article.
Posts
