Ford reduces Mazda stake from 33.4% to 13
Another one of the big 3 is dumping their stocks in other car brands in order to stay afloat. This time it’s Ford will be reducing their 33.4% stake in Mazda to just slightly over 13%. Part of the stake will be bought back by Mazda and the rest by a group of Mazda’s business partners at a price of 184 yen per share. The “business partners” have not been named but some of them are rumoured to be Sumitomo, Itochu, Tokio Marine Holdings and Denso.
“The sale of Mazda shares by our partner, Ford, will not result in any change in Mazda’s strategic direction and we will continue to accelerate our product-led brand improvement and cost innovation initiatives. We will continue our strategic relationship through our ongoing joint ventures with Ford, as well as the sharing of platforms and powertrains,” says Mazda’s Chairman, President and CEO, Hisakazu Imaki.
What that means is that the Mazda 3 will continue to share platforms and engines with the Ford Focus, the Mazda 2 with the Fiesta, Duratec and MZR will be still be one and the same, and so on.
Hisakazu Imaki will cease to be the President and CEO, with the vacant posts to be taken up by Takashi Yamanouchi who previously held the post of Executive Vice President and Assistant to President in charge of corporate liaison, purchases, HR, admin, secretariat and auditing. David E. Friedman who is currently CFO will be replaced by Kiyoshi Ozaki.
There are also a few other Western names like Daniel Morris, David Stickel and Anthony Pastor who will step down as a result of the reduced Ford shareholding.
Related Posts:
Ford wants to sell Mazda to… Mazda?
November 18, 2008 @ 7:50 pm
Rivals like this big time. Can bungkus one top automaker at same time. I think that volvo is the last brand to be “sold off” if the current conditions continues.
November 18, 2008 @ 11:02 pm
bad time for ford have to sell off its tuxedo hope its don’t need to sell off its under ware.
November 19, 2008 @ 8:18 am
share same platforms and engine may save a lot of the cost..
i think mazda will buy back their own share from Ford..
November 19, 2008 @ 9:58 am
is this a good or bad thing?
November 19, 2008 @ 12:34 pm
Good…give it back to the Japs!!
November 20, 2008 @ 12:26 am
Japs are good car markers but lousy at managing it.
That’s why they have a Brazilian French at the helm of Nissan…and have Yanks auto makers as stake-holders in their company.
November 20, 2008 @ 1:43 pm
jagermeister said,
November 20, 2008 @ 12:26 am
Japs are good car markers but lousy at managing it.
That’s why they have a Brazilian French at the helm of Nissan…and have Yanks auto makers as stake-holders in their company.
—————————————————————-
dude, that was so yesterday,and only nissan has this scenario.japs make good cars and are good at managing as well.hey, everyone moves forward.anyway,tables have turned now,d big 3 r in deep shit.anyone supporting the bailout?
November 20, 2008 @ 3:51 pm
jagermeister said,
November 20, 2008 @ 12:26 am
__________________________________________________________________________
Not all of them are lousy bro. Compare them to the Brit. Mini lost to the Germans (BMW). So does their Rolls Royce. Aston Martin lost to Americans (Ford) but now they also got bigger problems! The Jags has fall to the Indians (*Tata) . Lotus lost to Malaysian somemore (Proton). Their Land Rover also lost to…again, Ford. Others prestige brand like Bentley falls to VW. Don’t forget the classic name like MG which falls to the Chinese (Nanjing Automobile).
Again, not all Japs are lousy since mighty Toyota already take over 20% stocks in Fuji Industries (Subaru). Honda too is very good at managing their company. Not saying that you are all wrong, just that in my opinion the Japs is ain’t that lousy!
*Correct me if I’m wrong.
November 20, 2008 @ 3:52 pm
Oh! Cheers bro. Happy motoring.
November 21, 2008 @ 9:02 am
torque said,
November 20, 2008 @ 3:51 pm
jagermeister said,
November 20, 2008 @ 12:26 am
__________________________________________________________________________
Not all of them are lousy bro. Compare them to the Brit. Mini lost to the Germans (BMW). So does their Rolls Royce. Aston Martin lost to Americans (Ford) but now they also got bigger problems! The Jags has fall to the Indians (*Tata) . Lotus lost to Malaysian somemore (Proton). Their Land Rover also lost to…again, Ford. Others prestige brand like Bentley falls to VW. Don’t forget the classic name like MG which falls to the Chinese (Nanjing Automobile).
Again, not all Japs are lousy since mighty Toyota already take over 20% stocks in Fuji Industries (Subaru). Honda too is very good at managing their company. Not saying that you are all wrong, just that in my opinion the Japs is ain’t that lousy!
*Correct me if I’m wrong.
———————————-
we must thank the stupid yanks in making toyota and honda the great force they are today. meanwhile, i will be supporting fiat group.
November 21, 2008 @ 12:35 pm
yeah,mazda rules haha!….(rx7 fan)
April 15, 2009 @ 8:17 pm
This topic is quite trendy in the net right now. What do you pay attention to when choosing what to write ?