Pictures: Henry Ford III and Alexandra Ford English. Source: Ford Motor Company
Two great-great-grandchildren of the founder of the Ford Motor Company (NYSE: F), Henry Ford, have been appointed to the board of directors of the 118-year-old automaker.
Henry Ford III, 40, and Alexandra Ford English, 33, were nominated in March to stand for election at the company’s virtual annual general meeting held on Thursday, The Detroit Free Press reported.
Ford III, the son of Edsel Ford II, joined the company in 2006 and has worked in labor relations, purchasing, marketing and sales, and corporate strategy. He is currently Investor Relations Director.
Ford English is the daughter of Bill Ford, the company’s chief executive officer, and the first female family member to serve on the board. Prior to joining the family business in 2017, Ford English worked in merchandising for Tory Burch and Gap Inc. She now works as Director of Corporate Strategy at Ford and is the automaker’s representative on the board of directors of Rivian, the electric car maker that Ford is part of owns a stake.
The Detroit News noted that the two new candidates are the fifth generation of Ford family members to be represented in the boardroom.
In a statement, Bill Ford said: “Henry and Alexandra are passionate and capable young leaders who care deeply about Ford Motor Company and the well-being of our customers, employees, dealers and shareholders.”
“I am delighted and proud to have a new generation of Ford family leaders who believe in serving the company and making sure it remains a successful and positive force in the world for years to come,” said he.
They will fill vacancies retired by Edsel Ford II, 72, who has reached the mandatory retirement age of the Board of Directors after 33 years, and Eli Lilly and John Lechleiter, 67, the company’s Chief Executive Officer.
After the election, Ford’s 14-member board of directors will consist of four women and two minorities.
For comparison: The General Motors Company’s 13-member board of directors – the first of all automakers with a female majority – has seven women and two other minorities. GM is also among the only 5% of U.S. corporate boards that have at least half of the board members women.
Source: Equities News