Jacques Nasser, the man who gave us the dubious marriage of Ford, Land Rover, and Jaguar that resulted in the now defunct Premium Auto Group,want to buy Jaguar and Land Rover. The Times reports that Nasser is visiting the factories to "woo trade unions" in an attempt to get support for his bid. Gentleman Jac's partnering with One Equity Partners, JPMorgan Chase's private equity firm. Fearing the old "strip and flip," union leaders have asked the Government to block any sale to an equity firm. Whoever ends up with the not-so-dynamic duo, the union wants Ford to "agree that if they are going to sell Jaguar and Land Rover they ensure there is a long-term commitment to keeping production, research and development and stamping at existing facilities."
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He may be vilified for driving Ford to distraction by buying other car makers and trying to diversify Ford, but I remember Jacques Nasser fondly. He actually personally responded to a product suggestion I emailed to Ford. For a CEO to find the time to do so… amazing.
I believe that Nasser started a large Six Sigma quality effort within Ford. Who knows, maybe that is responsible for the recent quality improvements? I do not think he ever got the chance to pull off his overall vision for the company.
A friend of mine (who shall remain anonymous) told me that he stood close enough to Jacques Nasser to hear him say, “I paid a dollar for a car company and (the rest) for the S80 platform” shortly after setting up the deal wherein which Ford purchased Volvo.
Whether or not you think much of the current S80 platform, it did move Ford in a different, better direction. Just look at the new Taurus.
As for Jaguar, having just spent a day with the new XK, it seems they are on the right track. Maybe if Mr. Nasser can arrange the right partner, we might even see the F-type brought to fruition.