Corporate Culture

Ford Focuses on Future

Amidst a continuous decline in stock price, Ford is forced to reassess their strategic direction in an effort to appease Wall Street and find their long term stride. A few plans have been cited on the CEO's agenda including "scaling back production of cars [during time of increased demand in larger vehicles], paying down debt..., willingness to exit businesses or parts of the world..., and/or creating new companies...to be a big player in the autonomous industry". However, in the meantime, there has been discussion of a cut in headcount in order to quickly start this rebound period. Although losing valued employees is never easy, personnel is one of the higher costs in a company's expenses and an understandable initial focus area. 

AkzoNobel turns down $29 billion

"Dutch industrial paints and chemicals company AkzoNobel on Monday rejected a third unsolicited takeover bid from American rival PPG Industries, worth $28.8 billion, saying it was not in the interests of shareholders." AkzoNobel CEO, Ton Buchner, looks forward to future plans of spinning off a specialty chemical division amidst this offer. Although a large offer, Mr. Buchner seems to have the longevity of his corporation in mind rather than a dollar amount. The article cites "a lack of cultural understanding, no substantive commitments to stakeholders, [as well as] significant risks and uncertainties". Share value had dropped over the past couples of days, but it will be interesting to see how the company's future plays out.