Appointment of Peter Stern
Ford Motor (NYSE: F) announced on Monday the appointment of former Apple Inc (NASDAQ: AAPL) executive Peter Stern to lead its newly formed integrated services business. This division is focused on creating and marketing software for Ford's range of cars and trucks.
Stern's Role and Responsibilities
Peter Stern, known for his work on Apple TV+, iCloud, and Apple News+, will report directly to Ford's CEO Jim Farley in his new role. His responsibilities will include integrating hardware, software, and services across key Ford platforms such as Ford Blue, Model E, and Ford Pro.
Strategic Focus on Connected Vehicles
The hiring of Stern comes during a period when Ford is shifting its focus towards connected vehicles. The automaker is attempting to reduce costs and concentrate more on technological advancements, marking Stern's appointment as a vital step in this strategic direction.