Ford Motor Co. Hires Former Apple Executive to Lead Software-Based Services
Peter Stern
Ford Motor Co. Hires Former Apple Executive
Ford Motor Co. announced on Monday that it has hired Peter Stern, a former Apple executive, to lead a newly created group focused on developing software-based services across Ford’s gasoline and electric vehicle business units.
Stern, who served as vice president of services at Apple for the past six years, will now take on the role of president of Ford Integrated Services, reporting directly to CEO Jim Farley. He will be responsible for building out a business related to Ford’s BlueCruise hands-free driver-assist system and developing safety and security services for Ford Pro, the company’s commercial business unit.
According to Farley, the hiring of Stern is a transformational move for Ford as it aims to create exceptional customer services and experiences through the integration of hardware and software. Farley believes that Stern is the best person for the job, stating, “There’s simply no one in the world better able than Peter Stern to build this strategically vital part of our business.”
Experience in Services and Marketing
During his tenure at Apple, Stern led the launch of various services, including Apple TV+, Apple News+, Apple Arcade, Apple Fitness+, MLS Season Pass, and Apple One. He also oversaw marketing for all Apple services, such as the App Store, Apple Card, Apple Pay, Apple Music, Apple Podcasts, and Apple Maps. Stern expressed his excitement for the opportunity to create new services businesses within the automotive industry, particularly during this period of transformation from gas engines to electric vehicles and from human to autonomous driving.
Ford’s Subscription Service Plans
Ford has ambitious plans for subscription services. Currently, approximately 400,000 customers, or about 12% of Ford’s total connected-vehicle base, pay for subscription services offered by Ford Pro. The company aims to triple this figure to 1.2 million by 2026. Additionally, Ford intends to expand its subscription offerings for retail customers and expects that 20% of Ford Pro’s earnings before interest and taxes will come from software services.
Stern emphasized his focus on creating customer experiences that feel like magic, while CEO Farley highlighted the software business as a key differentiator for Ford. The company believes that software will be its fastest-growing revenue stream and is dedicated to improving the lives of its customers through innovative services.
