Ford investors quiz execs on stock performance, EV strategy and more

Ford Motor Co. executives fielded questions from investors at the company’s annual shareholder meeting on Thursday about the automaker’s electrification strategy, its faltering stock performance, and how it’s navigating complex supply-chain issues. Shareholders also approved the reappointment of 14 board members and again rejected a proposal that would do away with […]

Ford Motor Co. executives fielded questions from investors at the company’s annual shareholder meeting on Thursday about the automaker’s electrification strategy, its faltering stock performance, and how it’s navigating complex supply-chain issues.

Shareholders also approved the reappointment of 14 board members and again rejected a proposal that would do away with a dual-class voting stock that gives Ford family members outsized voting power.

That proposal came from shareholder John Chevedden, who has unsuccessfully brought similar language to a vote numerous times.

“This dual-class voting stock reduces management accountability by giving Ford family insiders the power to retain corporate control vastly disproportionate to their money at risk,” Chevedden said. The proposal was rejected with 63.2% of the vote against it.

Ford’s board of directors also accepted the retirement of Anthony Earley Jr., who was elected to the board in 2009 and has reached the mandatory retirement age of 72. Earley’s departure leaves the board with 14 members, four of whom are women and two of whom identify as members of minority groups.

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