Alexandra Ford English was named as global brand merchandising director of Ford (F) - Get Ford Motor Company Report Monday, promising to explore digital branding opportunities, in a newly created role for the family member of the company's namesake.
The 33 year old already serves on the company's board of directors after being elected to the position in May along with Henry Ford III. Both are the great grandchildren of company founder Henry Ford.
"Anywhere you go around the world, you find passionate Ford fans and we want to offer them an inspiring collection of merchandise and accessories, and potentially even digital products like NFTs,” said English. “I’m so excited for this opportunity to create new ways for people to connect with our brand and grow the business.”
Ford shares rose 48 cents, or 3.45% to $14.26 in afternoon trading.
Earlier this month Ford announced that it will double the production capacity target for its F-150 Lightning electric pickup truck to 80,000 per year due to strong demand.
The company had previously targeted producing more than 40,000 of the vehicles by 2024. The vehicle is slated to go on sale next spring.
"The interest from the public has surpassed our highest expectations," Executive Chairman Bill Ford said in a statement.
The company says it will invest $250 million and add 450 hourly jobs across three Michigan plants in order to facilitate the company's increased production target.
"This truck and the Ford-UAW workers who are assembling it in Michigan have a chance to make history and lead the electric vehicle movement in America," Ford said in a statement.
Ford is a holding in Jim Cramer's Action Alerts PLUS member club.