Ford 2010 Annual Report Download - page 6

4 Ford Motor Company | 2010 Annual Report
FORD’S SENIOR
MANAGEMENT
TEAM
The senior management team
continues to successfully advance
the company’s One Ford global plan.
From left to right (seated):
Alan Mulally, Mike Bannister,
John Fleming, Sue Cischke,
Lewis Booth, Jim Farley and
David Leitch (standing) Mark Fields,
Joe Hinrichs, Stephen Odell,
Felicia Fields, Ziad Ojakli, Ray Day,
Tony Brown, Derrick Kuzak,
Bennie Fowler and Nick Smither.
Looking Forward
We expect continued improvement
in 2011, driven primarily by our
growing product strength, a gradually
strengthening global economy and
an unrelenting focus on improving the
competitiveness of the Company. As
the U.S economy continues to recover,
we anticipate U.S. industry sales
volumes will increase from 11.8 million
units in 2010 to somewhere in the range
of 13 million to 13.5 million units this year. We
also expect to see strong growth in emerging
markets such as China, India, Brazil and
Turkey, which will offer us significant sales
volume opportunities.
As we move forward we will continue to
focus on delivering the key aspects of our
One Ford plan, which are unchanged:
• Aggressively restructure to operate profitably
at the current demand and the changing
model mix;
• Accelerate development of new products
our customers want and value;
• Finance our plan and improve our balance
sheet; and
• Work together effectively as one team,
leveraging our global assets.
We plan to build on our performance in
2010 with continued improvement in total
company pre-tax operating profit, excluding
special items, and Automotive operating-
related cash flow in 2011. On a full year
basis, we expect each of our operations to
be profitable. In addition, our Automotive
operating margin* is expected to be equal to
or improved from the 6.1% achieved in 2010.
We also expect solid profitability for Ford
Credit in 2011, although at a lower level
than 2010.
*Defined as Automotive pre-tax profits,
excluding special items and excluding Other
Automotive (consisting primarily of net
interest expense), divided by Automotive
revenue.
We achieved great success as we rebuilt our
company in extremely challenging economic
conditions. Now we are eager to show the
world what a revitalized Ford Motor Company
can accomplish in a growing global economy.
We are one team with one plan and one goal:
to continue serving our global customers with
a full family of best-in-class products and
delivering profitable growth for all associated
with Ford.
As always, we thank you for your support of
our efforts.
Alan R. Mulally
President and Chief Executive Officer
March 10, 2011