Ford names Kyle Crockett as new Chief Accounting Officer

DEARBORN, Mich. - Ford Motor Company (NYSE: F), currently valued at $42 billion in market capitalization, announced the appointment of Kyle Crockett as the new Chief Accounting Officer (CAO), a move that will take effect shortly after the company files its second quarter financial report. Crockett, who will report to Chief Financial Officer Sherry House, is set to assume his new role on May 19. According to InvestingPro data, Ford maintains a healthy financial profile with a "GOOD" overall health score, trading at an attractive P/E ratio of 8.37.

Crockett’s extensive background includes significant experience in accounting and financial reporting, which he honed during his recent tenure as Vice President, Controller, and CAO at Carrier Global Corporation. There, he was instrumental in establishing a global controllership team and promoting a culture focused on quality, accountability, and collaboration. His efforts contributed to Carrier’s streamlined business portfolio and simplified technology infrastructure.

Before his time at Carrier, Crockett’s career spanned various industries and locations, including over a decade at General Motors. At GM, he initiated process transformations to standardize operations globally, enhancing the quality and efficiency of financial operations and fostering better decision-making through improved insights.

Ford’s CFO Sherry House expressed her confidence in Crockett’s ability to bring discipline and a systematic approach to the company’s accounting function. This expertise is expected to bolster Ford’s ongoing business transformation initiatives. The company has demonstrated strong shareholder returns with a notable 7.11% dividend yield, having maintained dividend payments for 14 consecutive years. For deeper insights into Ford’s financial metrics and growth potential, investors can access comprehensive analysis through InvestingPro, which offers detailed research reports covering over 1,400 US stocks.

Crockett will be succeeding Mark Kosman, who is transitioning to another finance role within the company. The announcement is part of Ford’s broader efforts to refine its leadership team and strengthen its financial operations.

Ford Motor Company continues to focus on its Ford+ plan aimed at growth and value creation, which involves leveraging its strengths, expanding capabilities, and fostering customer relationships to enhance user experiences and loyalty. With annual revenue of $182.87 billion and a gross profit margin of 8.07%, the company faces both opportunities and challenges in its transformation journey. The company is known for its range of Ford trucks, sport utility vehicles, commercial vans, cars, and Lincoln luxury vehicles, as well as its commitment to electrification and digital services. InvestingPro analysis indicates that Ford’s current market price suggests slight undervaluation, presenting a potential opportunity for investors seeking exposure to the automotive sector.

This leadership change is based on a press release statement from Ford Motor Company.

In other recent news, Ford Motor Company has faced several significant developments. The company has withdrawn its full-year financial guidance due to uncertainty caused by tariffs, which are expected to increase costs by $2.5 billion in FY25, potentially reducing EBIT by $1.5 billion. Despite these challenges, Ford reported a strong first quarter with an adjusted EBIT of $1.0 billion, surpassing the estimated $0.2 billion. This performance led TD Cowen to maintain a Hold rating on Ford stock with a $10 price target, reflecting improved cost execution and alignment with their projections.

Bernstein analysts, however, upheld an Underperform rating with a $7 target, citing concerns over tariff-related costs and the suspension of Ford’s financial guidance. Additionally, Ford has raised prices on three models produced in Mexico, including the Mustang Mach-E, Maverick pickup, and Bronco Sport, in response to U.S. tariffs. The price increase can reach up to $2,000 on some models. Meanwhile, employees at Ford’s Cologne plants in Germany are set to strike, potentially disrupting operations, though details about the strike’s duration and impact remain unclear. Ford has not yet commented on the strike, and any negotiations with the workers’ council will be closely monitored.

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