steelcase, you make those steelcases in mexico. that's not what the president wants. fields can go work for the president. i don't know. he spent a lot of time with the president. >> big leaders that got a name out of -- a deal out of saudi. boeing and lockheed martin. >> boy, the white bodies have been a dud of late. maybe a good place to dump them off in saudi arabia. they were stuck with them. >> we have a settlement on arconic. >> we do? what do you have? >> a proxy fight will not go to a final -- annual meeting which is thursday. three of elliott's nominees i believe, ayers, dodi and patrice marin will join the board. there's no stand still provision. >> three? so they have six now? >> marin joins the ceo search committee. elliott gets consultation rights on the ceo search process. larry lawson will be among the candidates considered. >> oh, my. >> for ceo. >> three's who they want as ceo. >> david hess the current interim ceo will stay on the board. legacy director raphael rife will resign and current arconic nominee arbaugh will take his place. >> lawson is the

he's the former ceo of steelcase that was a company going through transition.ally get hallmarks for how he was steering steelcase, again, that's not an auto company. however, he's a one-time director for the company. and he's the president of ford's mobility. it's not like they're bringing in an outsider, someone who doesn't understand what the auto business is all about. the key for jim hackett in terms offed for making the move investigate son nature for investors laying out some kind of a vision and benchmarked perhaps in the relatively new future and saying is this what we expect to make. this is out autonomous drive vehicles, smart mobility solutions will filter down to the bottom line. guys it's not enough to say you're working ton or have a completely autonomous vehicle by 2021 which is what ford has been saying. that's fantastic. everybody is working on that. but what investors want to know how is it filtering down to the bottom line. >> thank you. from chicago. >>> the focus will be the headlines out of president trump's first overseas trip as commande

when he worked for steelcase think, i believe he made 32% of the staff redundant in a four-year period someone pretty ruthless? >> they did already announced cuts to the salaried staff of about 10% just last week. ford did a lot of downsizing during the last recession. sure that is the thing that is called for at this moment. it seems they need to charge this new path for how they are going to make money on the mobility services, robot taxis, and how they will fund the development of those products today by making billions off suvs. scarlet: speaking of the future, it is hard to resist the temptation to compare forward to companies like -- ford to companies like tesla and uber. when tesla flashes billions of dollars on electric vehicles, investors applaud. similar, thes market frets about a lower profits. -- about lower profits. julia and i were looking at the numbers. ford'sades at four times earnings. should we expect to see more activist investors target these companies? we have already seen david onward target g.m., for instance. keith: that is a hard nut to crack with ford. the fo

in addition to being the ceo of steelcase. he did a great job there. guy is visionary. they love him in silicon valley. he may be older than mark fields but this guy is the future. we'll see. liz: nothing wrong with older, experienced people. you shut them out, that is ageism. jeff flock -- reporter: i'm getting there. liz: you and me. >>> from four wheels to two wheels, the hottest thing in exercise right now was in las vegas. i just got back from the hedge fund conference at salt. those who know me i'm a big flywheel fanatic. sara rob owe hague again, is awesome, raced to las vegas. she opened a pot-up spin studio at the hedge fund conference to keep the c-suite over achievers from too much sinning in sin city. i spoke to her exclusively of trail expansion and big announcement for flywheel in thç future. let's talk about the growth of the business, because you're nationwide right now. >> he yes. liz: how many more studios do you plan to open? you have just come on board from equinox and before that, you have been at gatorade, nike. she turned around

he was the ceo over at steelcase at 2014. his background is office furniture. seeing the change of the open layout. it's a very different industry from the auto industry which is basically a technology industry right now? >> i think if you look at this, you don't look at jim hackett as a long-term ceo. you look at him saying here's the guy who is going to be at this company for seven or eight years. you look at him as somebody who realizes i have to get us moving in the direction of convincing wall street thatted for will profit in the future when autonomous drive vehicles become much more important than they are right now. and then you have to look at the next tour of executives who will take on a bigger role, bill hen hen henrichs out of ford north america. and running ford of europe, it's now slightly profitable after years of losses. those are the people, two, three, four years down the road are go to be running the company. >> phil, thank you. >>> in political news, president trump arriving as you saw, if you were watching at the top of the show, arriving

jim hackette, formerly the ceo of steelcase, board member at ford for a number of years and then took over the smart mobility business about a year, maybe a year and two months ago, and he now will be at the headquarters and we heard from him just within the last hour, saying look, we need to move faster, we need to make our decisions more unified as a company and as part of that, we are going to be talking with bill ford about what happens next for ford and about this decision, how quickly they decided the ford board decided because there's already reporting out there they have been mulling this over for some time as far as making a change. >> phil, we just heard from robert frank about the ford family and obvious frustrations over the stock price. is the read this morning that this move is to patch up that stock, or to truly graduate the company into a new era of mobility? >> the read is that it's a combination of factors. there's no doubt that the lagging stock price played a role and that's a key factor here. we are going to be talking with bill ford about that. the other issue he

the new chief executive, jim in.ett, is revived steelcase during 20 years as c.e.o. there.poke to bloomberg tv and believes hackett can do the same thing at the automaker. >> i have never seen such a time in our industry where technology, competitors, and everything is converging to drive real change. it is very helpful at a time like that to have a leader who is very experienced in driving transformational change. fortunately, we have that in jim hackett. emily: joining us now, david welch. wrong,d fields do especially when it comes to self-driving cars? what do they think hackett can do better? david: the stock prices have been down. earnings have been down. they have been pulling down the forecast while general motors is raising a forecast. you are not seeing big company stocks down as much. ford felt a lot of pressure. when you look at the self driving car side of the business, they did not have a clear direction or mission. those were questions ford wanted answered. g.m. has units they have acquired. they are testing in san francisco. they have a piece of lyft and our

steelcase finished under 15 when he retired. the stock was up on a spike when it became public and the company never fulfilled its grand ambitions. in my opinion fields should have been given more of a chance. but now it's hackett's chance. i guarantee you the job won't be any easier than the one that fields did. after running a traditional oil compa company. still more "mad money" ahead, including a cause for a little happy hour on cramerica. a big boon for a british control maker. and cloud big data, ma sheern learning, i'll share you the buzz words, i'll speak with the ceo behind it. > . >>> we're now coming up on the 1-year anniversary of the brexit vote that shook the world. when uk shocked just about everyone by choosing to leave the european union. it triggered a monster global selloff. but after a few months of pain, we quickly bounced back and we knew some companies early on would flat out benefit from brexit. you can argue for leaving the eu as a policy question, but the one thing we know for sure, it helped make brita

it was last used in the iron other and semi-finished steelcase where congress found there was no threat. we'll see what happens in this case. >> you want to pick up on one of the points, the president focuses on the measure of the trade policy. what's your reaction to whether that's the right measure? >> so look, i mean, economists and warren alluded to this before are going to tell you the trade people in general are going toll the you that's not -- going to tell you that's not the right thing to focus on and you have to take a more holistic view and deficits in a whole may not be a bad thing. at least within certain periods of time. i get the economic argument. i mean, the analogy that i have heard used as well as thinking of it from a corporate perspective. you are going to have bilateral surpluses with your end customers. going to have bilateral deficits with your suppliers. it's focusing on any individual partner doesn't make a whole lot of sense, but i will say i think what's motivating the trump administration to some extent here is just a sense -- and frankly, a lot of the ameri

he was ceo of steelcase. turned that company around. was on the ford board for three years.r the last year ran the ford mobility unit that is the future, says ford. the past, the history is mark fields. he spent half of his life at ford. 56 years old. he spent 28 years there, last three as the ceo. had pretty good success in course of his run in my opinion. cars sold, all-time record, up to, since the recession. profit, 4 1/2 billion dollars last year. that was pretty good and a record since the recession. relaunched the f-150 successfully but the stock in the tank, down 37% over the course of his run. lost the confidence of the board, bill ford said. he introduced the new ceo today, jim hackett. >> the biggest challenge i have there and we will have here is to have everybody see the future, that they can see their opportunity in that, and secondly, that it is our right to win there. >> you have seen all the changes, that we've been talking about for some time. they're here now. time of great change, in my mind requires a transformational leader. reporter: bill ford says, ji

remember, for a number of years, he ran steelcase and is credited with taking a company in a tough industry being a real operational whiz there. look at this, the auto stocks of the large legacy auto makers over the last yearment only ford, ford along is the only one negative over the last year, down 16%. against that backdrop, bill ford and board of directors hope jim brings in a new philosophy and inject change into the company because, guys, you're looking at a company that's very few people are optimistic about over the next couple years. >> all right, stay right there, phil. bringing in walter issacson, ceo of the aspen institute. walter, listen, it's a tough place to be, industry's undergoing change. what would you look to happen at management level in order to steer the company through that? >> yeah. i was at the detroit auto show this past couple months ago doing an event with some of the ford people, and they are foc focused on smart mobility. you know, what is happening now 12 a tsunami of effects hitting the auto industry. whether it's self-driving car, electric cars, ford, smart