-- Ford Motor's (F) reorganization announced late Wednesday "makes sense," though the departure of electric vehicle chief, Doug Field, risks unsettling investors, UBS Securities said in a note emailed Thursday.
The company merged its electric vehicle, digital and design team with the global industrial system into a new organization, to be led by Chief Operating Officer Kumar Galhotra. As part of the reshuffle, Chief EV, Digital and Design Officer Field will leave Ford.
"By uniting advanced technology with industrial execution, we can make decisions faster, eliminate complexity, and deliver great vehicles and digital experiences with the quality and efficiency our customers and shareholders expect," Galhotra said in a statement on Wednesday.
UBS analysts, including Joseph Spak, said thinking about products holistically can create efficiencies.
"This type of reorganization makes sense," Spak wrote. "Better alignment, if achieved, could lead to more discipline and more on-time, on-budget launches."
Ford said it plans to refresh 80% of its North American portfolio and 70% of its global portfolio by 2029.
Field's departure may be viewed negatively as he was a key EV leader, UBS said. "This may cause investors to question upcoming (Universal Electric Vehicle) platform," Spak wrote.
Ford's shares fell nearly 2% in Thursday trade.
Alan Clarke became vice president of advanced development projects, and will continue to head the advanced EV development team, Ford said.
"We believe (Clarke) is well respected and liked so retention, talent and execution risk (from a reorganization) may be limited," Spak wrote.
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