Ford India on Thursday, November 29, 2012, announced that its retiring President and Managing Director, Michael Boneham, will be succeeded by Joginder Singh from December 1, 2012. Singh looks forward to taking Ford India to new heights and that he is “really looking forward to his new role.” Boneham has decided to retire after providing his valuable service to Ford Motor Company for 27 years.
Joginder Singh has remained associated with Ford for over thirty years and has worked on various positions globally in various departments, which include general management, strategy and treasury. Singh, prior to taking up the position of the outgoing President and Managing director of Ford India, Michael Boneham, served as the President and Managing Director, Ford, Business Services Centre.
Ford India recently announced a new $2 billion dollars investment in the country that would be used for expanding operations at the company's Chennai plant and the massive new factory in Gujarat. The new factory will be equipped to manufacture engines and cars, which will increase Ford's capacity in India to over 600,000 engines and 440,000 cars.
In his very first speech, Singh said that Ford India is determined to capitalise on the Indian auto market with as much as eight products over the next three years. The first of these vehicles would be the Ecosport scheduled to hit roads in the country in early 2013. “As new models come in, we will have the opportunity to fully utilise this capacity,” said Boneham, who post his retirement looks forward to spending time with family in Australia. Singh who would step into the role of Boneham aims to increase Ford's sales and service outlets across the country and would take it even to tier-two and tier-three markets.
Ford, which made its debut in India in 1995 has only achieved occasional success in the country so far and has not been able to reach out to a large section of people. The company has only three per cent market share in India, which can be accounted to the availability of Ford's only few models in the country. Singh said, “Ford is running a marathon not a short race” and hopes that the Ecosport will boost sales after it is launched next year.
Reacting to the possibility that diesel powered cars may be levied up to Rs. 50,000 extra in the country, Boneham expressed his dissent and said, “the Diesel technology of today is far superior to that of twenty years ago. Diesel is more economical and emits less carbon dioxide than petrol. This actually reduces India’s fuel import bill. Even in Europe, the most-environmentally conscious continent, diesel cars outsell petrol cars in a 60 to 40 ratio.”
Joe Hinrichs, Ford group, Vice President and President, APA on Boneham's retirement said, “Michael’s contributions to our business in Asia has been significant, specifically his leadership of the India market. Building the foundation blocks of Ford’s transition to a mass player, leading the launch of the game-changing Ford Figo and his role in securing the US$ 1 billion (Rs. 5,363 crore) investment for our second new integrated manufacturing facility at Sanand helped us significantly transform our operations in India.” He also said, “We truly appreciate Michael’s contribution to Ford Motor Company and wish him and his family all the very best!”
On Singh's taking up the new role, Hinrichs said that Singh's proven leadership will play a significant role in the company's ongoing expansion in India. He also said, “His wealth of experience and understanding of the Ford brand globally and local market expertise will be invaluable in helping Ford to continue its growth momentum.”
