Under Jacques Nasser, Ford's response to intensifying competition in the auto industry was to acquire a stable of luxury brands and forward integrate into car rental (Hertz), car repair (Kwik Fit), and financial services.
The present CEO, Alan Mulally, has moved in the opposite direction: divesting car rental, car repair and the luxury brands (including Aston Martin, Land Rover and Jaguar), while aggressively cutting costs and capacity.
Given the characteristics of the industry and the company, which CEO has the better strategy?