"A finance guy with a true human touch."
Harold “Red” Poling, retired chairman of Ford Motor Company died at his home in Monterey, California on Saturday morning 12 May. He was 86. Mr. Poling served as president of Ford Motor Company between 1985 and 1987, vice-chairman in 1988 and 1989, and as CEO and chairman from 1990 until 1993.
Poling also headed Ford’s European Operations in the late 1970s and was considered a vital leader who helped save the company during his time as executive vice-president North America in the early 1980s after an oil crisis caused a huge sales decline for Ford’s gas guzzling large cars and trucks.
“Red Poling was an extraordinary leader who had a profound impact on Ford Motor Company and everyone who worked with him. With a list of accomplishments that span 43 years, including leading the company through a remarkable turnaround during the 1980s and 1990s,” said Bill Ford, Executive Chairman of Ford Motor Company in a statement just released.
My favorite Poling story was when Ford was looking to buy Alfa Romeo. An Alfa was kept in the executive garage for Red and other senior execs to drive. One problem, Red’s big wing tips didn’t allow him to operate the small pedals unimpeded. Therefore, he took them off and drove the car in his socks, leaving the shoes on the walkway. It is unknown if the garage staff polished the shoes while he was gone.
Ed Miller, a former Ford Public Relations executive had this to say upon Poling’s passing:
“Red was a great person — a finance guy with a true human touch. About 1994 or so when the company was finally on the upswing after huge recession losses of the previous three years, I attended a Finance Staff meeting convened to determine which administrative programs the company could afford to begin restoring — stock dividend payments, 401(k) matches, the scholarship fund for employee’s kids, etc. It was a long list, and the Finance folks presented Red with a plan that restored about half the programs. Red said the cost target was in the ballpark but he rejected the selections. He told the staff to go back and figure out which programs helped employees and their families the most, and prioritize the list that way. He mentioned the 401(k) but nothing else, making them do the thinking.”
Mr. Poling graduated from Monmouth College in 1949. He earned his MBA at Indiana University and began his career in 1951 as a Cost Analyst in the company’s Steel Division.
