Ford elects first female member of founding family to its board of directors: Investors hope Harvard-educated heiress, 33, can help turn around struggling automaker amid profits plunge
Alexandra Ford English, 33, has been elected to Ford’s 14-person board of directorsShe is the great-great granddaughter of founder Henry Ford and the daughter of current Ford Chairman, Bill Ford Jr Ford Motor appears interested in keeping members of its founding family in key positions across the companyFord English’s cousin, Henry Ford III, 40, has also been elected to the board of directorsThere are high hopes the two young scions can help turn around the fortunes of the struggling automaker However, not everyone is impressed with their appointments, claiming that the nepotism presents a risk to investors‘That’s why we don’t have Kings and Queens anymore – it’s a roll of the genetic dice,’ one expert told Bloomberg
The great-great granddaughter of Henry Ford has made history after winning election to the automaker’s influential board of directors.
Alexandra Ford English, 33, will be the first female member of the Ford family to serve on the 14-person board, and is set to begin immediately.
The auto heiress has only been working in the family business for four years, but insiders hope she will be able to help reverse the fortunes of the struggling automaker.
According to Bloomberg, Ford’s shares have fallen 91 percent in the past 22 years, and ‘net income has plunged as the company struggles with a global overhaul’.
In 2018, Ford reported a net income of $7.7 billion. The following year they reported net income of just $3.7 billion.
Prior to joining the family business, Ford English worked in merchandising for Tory Burch and Gap.