March 15, 2013
/PRNewswire/ -- Ford Motor Company [NYSE: F] today filed with the U.S. Securities and Exchange Commission its preliminary proxy statement for the 2013 Annual Meeting of Shareholders.
The proxy announces details about the company's Annual Meeting, which is scheduled for
8:30 a.m. EDT Thursday, May 9
at the Hotel du Pont, 11
and Market Streets,
Included in the proxy are six company and two shareholder proposals requiring the votes of shareholders. In addition, details of compensation for the Named Executive Officers are outlined.
"We believe our 2012 performance clearly shows our management team performed exceedingly well in a difficult environment," the company said in its proxy statement.
Ford continued on its road to sustained profitability in 2012 by delivering results. The company reported:
- Earning $8 billion in pre-tax operating profit and $5.7 billion in net income;
- Posting Automotive operating-related cash flow of $3.4 billion;
- Increasing its liquidity by $2.1 billion over 2011 and ending the year with a strong liquidity position of $34.5 billion; and
- Record setting pre-tax profit and operating margin in North America, ending the year with $8.3 billion in profit and a 10.4 percent operating margin.
Ford also delivered on its growth strategy in 2012, as it:
- Launched 25 new or redesigned vehicles and 31 powertrains globally;
- Achieved record revenue, wholesales and market share in Asia Pacific and China; and
- Continued its largest and fastest manufacturing expansion in more than 50 years, adding capacity to support aggressive growth plans in North America and Asia Pacific.
Additionally, Ford's credit rating was returned to investment grade by the second of three major credit agencies in May, allowing for the return of the company's pledged assets, including the Blue Oval. The Ford Motor Company Board of Directors also reinstated a dividend in 2012 and doubled the dividend during the first quarter of 2013, providing a direct financial return to investors.