Jacques Nasser: Ford's Passing Fancy
Ford Motor's new CEO, Jacques Nasser, can't keep from speeding. Since Jan. 1, Nasser has put the pedal to the metal to make the No. 2 auto maker No. 1. On Mar. 1 he raided DaimlerChrysler for two execs who helped engineer Chrysler's rebirth. Crows Nasser: "People just want to be part of a winning team."
Nasser, say insiders, has a road map--what some call "Jac's 100-day plan." He is making bold moves that signal how Ford is changing, hiring executives from Whirlpool and General Electric. He is also wooing former BMW car czar Wolfgang Reitzle, a "close friend." Analysts are praising Nasser for landing DaimlerChrysler's Chris Theodore, 48, to be vice-president of large and luxury car development, and Shamel Rushwin, 51, as vice-president of advanced manufacturing engineering.
Nasser is scooping up more than employees. On Mar. 8, Volvo shareholders are expected to approve Ford's $6.5 billion deal for the car division. With $17.4 billion in cash remaining, Nasser is eyeing BMW, as well as Asian carmakers. "Hold onto your hats" with Nasser at the wheel, says one insider.