Ford announced several executive appointments as part of its Ford+ strategy, which includes initiatives to better serve its retail and commercial customers and increase brand loyalty, the automaker announced in a press release.
Among the new appointments is Lisa Materazzo, who will serve as Ford’s global chief marketing officer, effective Sept. 12. Materazzo previously served as vice president of marketing at Toyota North America.
Materazzo is tapped to lead the company’s advanced product planning and all marketing activities across Ford Blue, Ford Model e and Ford Pro. She will report to President and CEO Jim Farley and will also oversee the Ford Performance division and luxury brand Lincoln.
“The automotive industry is going through a sea change with the electric and software transition, and the more I looked at the bold bets Ford is making on the future, the more I wanted to be part of this mission,” Materazzo said in a press release.
Ford also appointed its chief customer experience officer, Elena Ford, as its new chief dealer engagement officer. She is the granddaughter of Henry Ford II and has been working for the company since 1995. Her new responsibilities will include working with Ford’s global dealership network to improve the automaker's retail activities, modernize training and development, and increase community engagement, according to the press release.
Additionally, William Clay Ford III, who is the son of William Clay Ford Jr., a fifth-generation member of the founding Ford family, is joining the company as general manager of Ford Performance, which is the automaker’s motorsports and racing division. He will work with the unit’s product development, marketing, dealers, merchandising and other teams to help expand Ford’s performance-focused business and lifestyle brand.
Ford CEO Jim Farley announced the Ford+ plan in May 2021. He referred to it as the company’s “biggest opportunity for growth and value creation since Henry Ford scaled production of the Model T.”
In March 2022, Ford said it was creating three new divisions within the company: Ford Blue, Ford Model e and Ford Pro. Ford Blue is focused on the automaker’s traditional internal combustion engine vehicle business, while Ford Model e targets the company’s growing EV business and developing software and connected vehicle technology. Ford Pro is focused on supporting the automaker’s commercial and government customers.
The executive appointments at the automaker come as the company faces difficulties in ramping up its EV sales while maintaining profitability. In July, Ford said its Model e business would lose $4.5 billion this year, a 50% jump from previous projections. However, the automaker expects Ford Pro and Ford Blue to help offset its massive EV losses in 2023, with revenue increasing 12% year-over-year to $45 billion.
