Another executive “retirement”

John Savona, who began at Ford as a factory security officer while his father earned an hourly wage on the assembly line, is leaving Ford Motor Co. as a top executive after more than three decades with the automaker.

Retirement of the "accomplished and respected" leader did not come as a surprise; it has been carefully planned, Ford said in a news release.

“Carefully planned” includes having to hire an outsider from Johnson Controls. Not one person coming up behind Savona in the Ford ranks. That doesn’t sound like “carefully planned “ to me.

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@1vzr - Someone who expects to be targeted in some way, thrown to the wolves or expects to lose even more money by not leaving now. At that high of a level much of his compensation will have been in stock grants and options, which can be hard to unload in large quantities while still working for the company. He can see as well as anyone else that we're entering a recession, potentially a severe one, and is aware that the longer he waits to sell off his holdings the less they'll be worth. Certainly more than two years of salary and maxing out his pension will be. Also, as rumored on this very site there may be a conversion of pensions to 401ks while interest rates are high which would force him out of a very comfortable fixed monthly pension into dealing with the vagaries of the market.

Another talking head privileged friends and family person has left the building… to be replaced with someone in the friends and family plan

Wow with all the people in Ford manufacturing there was not one internal candidate that was qualified? I have lost all faith in this company/

Who cares !!

His Lump Sum hit must have been massive... I wonder if his exit package covered the loss... At a certain level they are just pigs at the trough...just waiting for the sl------r.

It sure seems like they are systematically pushing out all of the people who actually understand how to build cars and trucks!

Read his profile on linked in. Who leaves after 33 years? Might as well stay until 35 at that point and maximize your retirement!

I worked under him and thought of him as the friendly firefighter. During introductions I talked about my internship at Ford while in grad school at the University of Michigan. He laughed and talked about how he started Ford as a security guard, seemed to enjoy people's reaction. Sharp dresser, looked the part. Decent attention to detail.

My MIT educated manager showed cleavage at work for the first time I can remember in a decade so he was moving people to behave in unusual ways.

https://www.yahoo.com/entertainment/top-labor-exec-john-savona-173703310.html

Amongst his accomplishments was getting the toilets fixed at MAP !

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Another executive “retirement”

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