Ford Motor Company, a leading player in the global automotive manufacturing industry, has announced a significant executive appointment that underscores its commitment to financial excellence and robust corporate governance. On May 7, 2025, Ford’s Board of Directors approved the appointment of Kyle Crockett as the new Chief Accounting Officer, effective immediately following the filing of the company’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2025.
Mr. Crockett brings a wealth of experience and technical expertise, having previously served as Vice President, Controller, and Chief Accounting Officer at Carrier Global Corporation from January 2020 to May 2025. Carrier is recognized for its innovation in climate and energy solutions with digitally-enabled features across global markets. His extensive background also includes senior finance, accounting, and SEC reporting roles at General Motors Company.
This strategic move positions Ford to reinforce its accounting functions and enhance internal control over financial reporting, a critical element amid increasing regulatory scrutiny and economic uncertainties in the manufacturing sector. Mr. Crockett’s appointment comes with a comprehensive compensation package approved by Ford’s Compensation, Talent, and Culture Committee, including a base salary of \(575,000 (pro-rated), an annual performance bonus target of 75% of base salary, and an annual stock award target valued at \)600,000.
In addition, Mr. Crockett received a substantial sign-on bonus totaling \(3,950,000, split between \)1,750,000 in cash and $2,200,000 in restricted stock units vesting over three years. These incentives align his interests with Ford’s long-term strategic goals and shareholder value creation.
Contextually, Ford’s financial standing remains solid based on its most recent full fiscal year 2023 data, reporting total revenues of approximately \(176.19 billion and a net income of about \)4.35 billion, indicating resilience and operational efficiency in a competitive automotive landscape.
This executive enhancement complements Ford’s ongoing initiatives to navigate economic uncertainties, regulatory challenges, and technological transitions, including the shift towards electric and autonomous vehicles. The rigorous focus on accounting leadership is expected to strengthen Ford’s financial reporting integrity and investor confidence.
At the shareholders’ annual meeting held on May 8, 2025, key governance proposals, including the election of the Board of Directors and ratification of PricewaterhouseCoopers LLP as the independent auditor, were overwhelmingly approved, reflecting strong shareholder support for Ford’s strategic direction.
This leadership update and governance affirmation illustrate Ford Motor Company’s dedication to maintaining operational excellence, financial transparency, and strategic agility in a dynamic global market.
For further details, the original 8-K filing is available at the SEC’s official site: Ford Motor Company 8-K Report May 7 2025.
Tags: Ford Motor Company, Executive Appointment, Financial Leadership, Corporate Governance, Accounting Control