by Bill Koenig of www.forbes.com
William Clay Ford, leader of the Ford family, died today at 88, according to a Ford Motor statement.
Ford, who was also the owner of the NFL’s Detroit Lions, was the last surviving grandchild of company founder Henry Ford. He was normally in the shadow of his more colorful brother, Henry Ford II. “Hank the Deuce” led the automaker from 1945 until 1979.
William Ford would never have the top executive job at Ford Motor. He lived to see his son, William Clay Ford Jr., hold the chief executive officer post from 2001 until 2006 when Alan Mulally was recruited from Boeing Co.. The younger Ford is still executive chairman.
The senior Ford joined the company’s board in June 1948, before he even graduated from Yale University. Upon graduation in 1949, he became a company employee. In 1957, he was elected head of the design committee. Ford oversaw the design of models including the Continental Mark II, according to the company statement.
With the death of Henry Ford II in 1987, William Ford has been the family leader. The family has 40 percent voting power over Ford Motor stock.
William Ford became chairman of the board’s executive committee in 1978. He was named vice chairman in 1980 and chairman of the finance committee in 1987. He retired as vice chairman in 1989 and as finance committee chairman in 1995. He remained on the board until 2005.
The team wasn’t as successful on the field as it was financially.
Under William Ford’s ownership, it has won only one playoff game. In
2008, the team went 0-16, the first NFL team to go winless during a
16-game regular season. The Lions last won an NFL championship in 1957.
Source;
http://www.forbes.com/sites/billkoenig/2014/03/09/william-clay-ford-leader-of-ford-family-dies/
William Clay Ford, leader of the Ford family, died today at 88, according to a Ford Motor statement.
Ford, who was also the owner of the NFL’s Detroit Lions, was the last surviving grandchild of company founder Henry Ford. He was normally in the shadow of his more colorful brother, Henry Ford II. “Hank the Deuce” led the automaker from 1945 until 1979.
William Ford would never have the top executive job at Ford Motor. He lived to see his son, William Clay Ford Jr., hold the chief executive officer post from 2001 until 2006 when Alan Mulally was recruited from Boeing Co.. The younger Ford is still executive chairman.
The senior Ford joined the company’s board in June 1948, before he even graduated from Yale University. Upon graduation in 1949, he became a company employee. In 1957, he was elected head of the design committee. Ford oversaw the design of models including the Continental Mark II, according to the company statement.
With the death of Henry Ford II in 1987, William Ford has been the family leader. The family has 40 percent voting power over Ford Motor stock.
William Ford became chairman of the board’s executive committee in 1978. He was named vice chairman in 1980 and chairman of the finance committee in 1987. He retired as vice chairman in 1989 and as finance committee chairman in 1995. He remained on the board until 2005.
At the Lions, Ford found a role as the No. 1
executive. He was named team president in 1969. He paid $4 million to
buy the team in a deal that closed in 1964. It was worth $900 million as of August 2013, according to Forbes.
Source;
http://www.forbes.com/sites/billkoenig/2014/03/09/william-clay-ford-leader-of-ford-family-dies/
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