The
Detroit News just came out with an intriguing article about the inner workings of the Ford family and the rifts that have divided some of its members.
The story begins with a meeting that took place late last month, which included Bill Ford Jr., FoMoCo's executive Chairman, his older sister Sheila Hamp and her husband, Steven Hamp, who, up until a year ago served as Bill Jr.'s chief-of-staff. The recent divisions stem from a meeting concerning the automaker's future and how the family will continue to operate as the controlling shareholders.
Joining the Fords (and Hamps) were two Wall Street big wigs with a background in corporate mergers and acquisitions. Joseph Perella and Peter Weinberg were reportedly on hand to advise the family about its stake in the company and what the future holds. In the end, however, the Blue Oval clan decided not to hire the dynamic (corporate) duo.
According to the
Detroit News, "the tense meeting highlighted differences within the family," namely between Sheila Hamp and her older bro.
We're not going to encapsulate the
entire article here, but it's well worth the read, especially considering how a sale of the family's shares might affect Ford's financial standing.
[Source: Detroit News]
