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 - 10A WWW.FREEP.COM WEDNESDAY, OCT. 25, 2017...
10A WWW.FREEP.COM WEDNESDAY, OCT. 25, 2017 MICHIGAN BUSINESS 313-222-8765 business@freepress.com Delphi Automotive an- nounced Tuesday that it will acquire autonomous driving software developer nuTono- my in a deal valued at $450 million. The purchase marks a significant expansion of Del- phi’s efforts to lead in the race to develop driverless vehicles. Delphi will gain a partner- ship with the ride-hailing service Lyft through Cam- bridge, Mass.-based nuTono- my, which also has a partner- ship with automaker PSA Group of France. The news marks the latest in a series of recent an- nouncements for Delphi, the former parts division of General Motors which has its U.S. headquarters in Troy. Delphi said last month that it would partner with smart- phone pioneer BlackBerry on its autonomous driving system. Previously, the company also said it will spin off its $4.5 billion powertrain oper- ations next year and rename, pending shareholder ap- proval, the remaining com- pany focused on the develop- ment of autonomous and connected vehicles as Aptiv. Officials said they expect the latest acquisition to lead to an increase in employ- ment as it ramps up develop- ment on autonomous vehi- cles. “The company will add more than 100 employees, in- cluding 70 engineers and sci- entists, to Delphi’s more than 100-member (autono- mous driving) team, while increasing Delphi’s access to new customers and markets in the emerging mobility space,” according to a news release. After the deal is complet- ed, likely by the end of the year, Delphi will have auton- omous driving development Deal marks expansion of company’s efforts to lead race to develop driverless vehicles Eric D. Lawrence Detroit Free Press Autonomous vehicle software startup nuTonomy has made rides on its self-driving taxis available to the general public in Singapore for free in August 2016. YONG TECK LIM, AP See DELPHI, Page 11A Delphi acquiring nuTonomy for $450 million Chad Johnson admits he’s not your ordinary CEO. The founder of Lady Jane’s Haircuts for Men nev- er went to college. He had no idea what he wanted to do af- ter finishing high school. There was no light bulb that went off in his head to pro- vide him with a blueprint for success. He just knew he wanted to make money – lots of it. And that’s exactly what he’s man- aged to accomplish over the past decade. “Growing up in Boston, I came from nothing,” John- son said. “I didn’t come from money at all, that’s not me. My mom used food stamps. I’ve eaten bologna sand- wiches, mayonnaise sand- wiches. I know what it’s like to go hungry for the day. I know what it’s like to walk to school with no mittens and my hands are freezing.” These days, it’s steak and lobster. Johnson owns and operates more than 100 hair cutting stores around the country, including 27 in Michigan, and he’s opening new stores every month. His corporate headquarters are in the lobby floor of the Bal- moral Building in downtown Birmingham. When it comes to woman power, he’s all for it. Lady Jane’s might be a business where gorgeous stylists pamper their male custom- ers in a giant man cave set- ting, but the company cul- ture is geared toward em- powerment and success. “Ultimately, the girls here are all about woman power and excitement and uplifting each other,” he said. “I have girls who start- Wicked Awesome! Lady Jane’s CEO talks about woman power Jay Grossman hometownlife.com See POWER, Page 11A Chad Johnson, of Lady Jane's Haircuts For Men, owns and operates more than 100 stores. BILL BRESLER, HOMETOWNLIFE.COM If you are in the market for a new Whirlpool washer and dryer or Maytag dishwasher, you will need to shop some- where other than Sears. The troubled retailer will no longer sell appliances from Whirlpool, which also makes KitchenAid and Jenn-Air products. Sears, Roebuck and Co., founded in 1887, had sold Whirlpool appliances for more than a century. In a memo sent to stores last week, Sears said Whirlpool made pricing demands “that would have prohibited us from offering Whirlpool products to our members at a reasonable price.” A copy of the memo was sent to USA TODAY. The company will only sell Whirlpool products that are currently in inventory, Sears said. In addition to offering its own Kenmore appliances, Sears “will continue to make available top brands that mem- bers expect from us including LG, Samsung, GE, Frigidaire, Electrolux, and Bosch.” “This move seems to be iso- lated to a dispute over pricing so is not linked to the compa- ny’s financial woes,” said Neil Saunders, managing director of the consultancy GlobalData Retail. “That said, it is another sign that Sears is becoming less relevant in the retail mar- ket and in that sense it is un- welcome news.” The retail chain has enacted several rounds of store clo- sures this year in its struggle to stay in business. Facing growing competition from Amazon.com and other retail- ers such as Home Depot, Sears Holdings has said it would close more than 300 Sears or Kmart locations, leaving it with more than 1,200 stores. Sears is ending relationship with Whirlpool appliances Mike Snider USA TODAY Ford shook up its top ranks Tues- day with the exits of Stephen Odell and John Casesa, as CEO Jim Hack- ett assembles his new leadership team. Also, Ford promoted a num- ber of women fewer than 48 hours before the scheduled third-quarter earnings report. Odell, 62, the vice president of global marketing, sales and service — once viewed as a dark horse for CEO — leaves after 37 years with Ford. Casesa, 55, a respected advis- er hired by ousted CEO Mark Fields, leaves his role as a global strategy vice president. Kumar Galhotra adds global marketing re- sponsibilities to his current role leading Lincoln, effective Nov. 1. “As we develop our strategy to become the most trusted mobility company, designing smart vehicles for a smart world, we will continue to reshape the organization to deliv- er the most value for our customers and all of our stakeholders,” Hack- ett said in a prepared statement. “The changes we are announcing today will further align resources and improve efficiencies through- out our global markets and opera- tions.” While the announcement shocked some industry observers, others say the changes simply move Ford toward its overall goals. “Steve Odell has been talking about retiring for the last couple years,” said Michelle Krebs, exec- utive analyst at Autotrader. “This has been in the works. Kumar is up and coming. He has been leading Lincoln, which is an emerging com- pany. Kumar is a steady hand. It’s a global brand and he has global ex- perience.” She added, “John Casesa was a Wall Street analyst brought in by Mark Fields to help with future strategy and mobility. So he was a Fields guy. Generally, this is the time of year when companies make announcements. You’ll see this at Delphi and GM.” Casesa elected to leave the com- IN: Dale Wishnousky, vice president, Manufacturing, Ford of Europe. IN: Kumar Galhotra, group vice president, Lincoln and Chief Marketing Officer. IN: Birgit A. Behrendt, VP, Joint Ventures, Alliances and Commercial Affairs. IN: Linda Cash, vice president, Quality and New Model Launch. IN: Lisa Drake, VP, Global Powertrain Purchasing and Global Purchasing. IN: Joy Falotico, chairman, CEO, Ford Motor Credit and group VP of Ford. OUT: Felicia J. Fields has elected to retire from Ford. OUT: John Casesa has elected to leave Ford. OUT: Stephen Odell is retiring after 37 years of service. OUT: Bennie W. Fowler has elected to retire from Ford. Phoebe Wall Howard Detroit Free Press FORD MANAGEMENT SHAKEUP See FORD, Page 11A IN & OUT Executive departures announced on eve of earnings report

Clipped from Detroit Free Press25 Oct 2017, WedMain EditionPage A10

Detroit Free Press (Detroit, Michigan)25 Oct 2017, WedMain EditionPage A10
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