Jacques Nasser

Jacques Albert Nasser
Jacques Albert Nasser
Born	December 12, 1947 (age 78); Amioun, Lebanon
Occupation(s)	Business leader, philanthropist
Years active	1968–present
Known for	CEO and president of Ford Motor Company (1999–2001); Chairman of BHP Billiton (2010–2017)

Jacques Albert Nasser (Arabic: جاك نصر; born 12 December 1947) is a business leader and philanthropist of Lebanese Australian and American nationality. He gained prominence through his long-standing leadership roles at Ford Motor Company, where he was CEO and president from 1999 until 2001. Following his tenure at Ford, Nasser became a partner at One Equity Partners (affiliated with JPMorgan) and served on the boards of British Sky Broadcasting and Brambles. Additionally, he was a member of the international advisory council for Allianz and held the position of Chairman at Australian mining corporation BHP Billiton between 2010 and 2017. In 2012, Smart Company ranked him sixth among the "most influential figures in Australian corporate leadership."

At present, Nasser is a board member of Koç Holding and has formerly been on the board of Fox Corporation, where he acted as lead independent director as well as chairman of the compensation committee. He also participates on the advisory board for Altimetrik and contributes to the chairman’s panel for the Great Barrier Reef Foundation. A committed advocate for education, Nasser supports numerous scholarship initiatives. His honors include membership in Lebanon’s National Order of the Cedar, Australia’s Order of Australia, and receipt of the Ellis Island Medal of Honor. In 2017, he was appointed a Companion of the Order of Australia.

Early life and education

Born Jacques "Jac" A. Nasser on 27 December 1947 in Amioun, Lebanon, he is the son of Abdo Nasser, who worked as a bus driver before becoming an independent entrepreneur. At four years old, Nasser relocated with his family to Melbourne, Australia. He attended Northcote High School and during his teenage years launched several ventures, including manufacturing bicycles and operating discotheques alongside his brother Jamie. His initial professional exposure came from an internship at Ford Australia. Nasser earned a business degree from the Royal Melbourne Institute of Technology in 1968, an institution that later awarded him an honorary doctorate in technology. He is proficient in English, Arabic, Spanish, and Portuguese.

Early roles (1968–1997)

Upon graduating in 1968, Nasser began his career with Ford Motor Company as a financial analyst based at its Australian headquarters. By 1973, he joined Ford’s global finance team and subsequently relocated to the United States to work within North American Truck Operations. He returned to Australia to manage product programming and financial analysis before moving into Ford’s International Automotive Operations division, overseeing markets across Asia-Pacific and Latin America. During his assignment in Argentina, Nasser was briefly abducted by political militants but was released unharmed after two days.

In 1982, he played a key role in negotiating Ford’s joint venture in South Africa and formulated the business strategy for the Hermosillo Assembly Plant in Mexico in 1983. By 1987, Nasser advanced to director and vice president of Autolatina, the Ford-Volkswagen partnership operating in Brazil and Argentina. Concurrently, from 1989 to 1993, he served as president and CEO of Ford Australia, earning nicknames such as "Jac the Knife" due to his aggressive cost reduction measures and "Black Jack" for sustaining profitability during challenging periods. On 1 January 1993, he assumed the chairmanship of Ford Europe until 1996 while also being promoted to vice president at Ford that year. In 1994, he took on responsibilities as group vice president for product development, gaining recognition for his dedication through extended working hours and close collaboration with employees. On 1 November 1996, Nasser was appointed head of Ford Automotive Operations. He was also the keynote speaker at the 1998 New York International Auto Show.

CEO and Diversification (1998–1999)

In late 1998, Bloomberg Businessweek characterized Nasser as a "tenacious, tough-minded cost controller" credited with revitalizing Ford, while Fortune identified him as the "likely successor" to CEO Alex Trotman. On January 1, 1999, Nasser assumed the roles of president, CEO, and board director at Ford Motor Company headquartered in Dearborn, Michigan. Under his guidance, Ford became the most profitable car manufacturer worldwide, generating $7.2 billion in profit from $163 billion in revenue. This success afforded him the latitude to innovate alongside chairman Bill Ford. Nasser’s vision was to evolve Ford into a "consumer-products and services enterprise," aiming to overtake GM in the US market share, decrease dependency on pickup truck sales, and expand into electric and connected vehicle segments.

To streamline operations, Nasser enacted cost-reduction strategies by shutting down loss-making factories and divesting underperforming divisions. He implemented a human resources approach that identified the lowest-performing 10% of managers for possible dismissal to foster renewal and creativity. Additionally, he enhanced employee resources by providing internet access and home computers. His emphasis on brand management led to the creation of the Premier Automotive Group (PAG) in 1999, which unified Ford’s luxury marques: Lincoln, Mercury, Aston Martin, Jaguar, Land Rover, and Volvo. To rejuvenate these brands, Nasser brought on designer J Mays. He also oversaw acquiring Volvo and Land Rover and launched an integrated e-business supply chain for automotive operations.

Nasser broadened Ford’s business beyond vehicle production into areas such as e-commerce platforms, salvage yards, auto-repair services, and vehicle distribution networks. By August 1999, PAG had purchased the European exhaust and brake service chain Kwik Fit, American scrapyard enterprises, Mazda’s consumer finance division in Japan, and secured a contract for satellite-based driver assistance services. This strategic diversification aimed at sectors with higher profit margins—while manufacturing margins hovered near 5%, leasing, insurance, financing, and repair segments typically yielded 10-15%. Toward the end of 1999, he also pursued divesting the underperforming parts supplier Visteon. In October 1999, Ford introduced the North American iteration of the Ford Focus for the 2000 model year. That year, Ford reported profits of US$6.5 billion (A$9.94 billion), marking what was then considered the largest profit in the global automotive sector.

Disputes and Firestone (2000–2001)

Nasser was central to the conflict between Ford and Bridgestone/Firestone regarding tire safety issues. Following investigations in 2000 that connected Firestone tire tread separations to fatal accidents involving Ford Explorers, Nasser authorized a recall enabling customers to exchange affected tires. Firestone contended that the incidents were due to Explorer design flaws, whereas Nasser defended the vehicle’s safety record. In September 2000, both Nasser and Bridgestone executive Masatoshi Ono appeared before a US Congressional subcommittee to discuss accountability for similar problems that had persisted for decades. Bridgestone terminated its century-long supply agreement with Ford in May 2001 over concerns about tire quality linked to the recall. After numerous class action lawsuits, Firestone recalled millions of tires while Ford allocated AUS$4.4 billion from its own resources to replace Firestone tires on its vehicles. This controversy significantly contributed to a steep drop in Ford’s quarterly stock prices during 2001.

By late 2001, opinions on Nasser’s diversification strategy were divided; analysts argued that recalls combined with diversification efforts had negatively impacted efficiency. His managerial performance review system became contentious amid allegations of reverse discrimination, prompting revisions announced in July 2001 to introduce greater flexibility. Later that year, Ford resolved several associated lawsuits without admitting fault. In October 2001, Nasser stepped down as CEO and was succeeded by William Clay Ford Jr., Henry Ford's great-grandson who had previously served as chairman and president.

Sky and One Equity Partners (2001–2010s)

In February 2001, Nasser became a member of the International Advisory Council at Allianz Aktiengeselischaft, a role he maintained until 2017. The following year, he took on the role of senior partner at One Equity Partners, the private equity division of JPMorgan Chase. During his tenure, he served as chairman of One Equity's Polaroid Corporation subsidiary from July 2002 until its divestiture in 2005. In 2006, Nasser played a part in One Equity’s attempts to acquire Jaguar Cars and Premier Automotive Group. He continued as a partner with One Equity until 2014 and offered advisory support to the firm through 2019. Additionally, Nasser held board positions at British Sky Broadcasting between 2002 and 2012, as well as at BuyTV.com and Brambles Limited from 2004 to 2008.

BHP Billiton chairman (2010–2016)

Nasser joined the board of the Australian mining corporation BHP Billiton in June 2006 and was appointed chairman in March 2010, succeeding Don Argus after an extensive search lasting 18 months. His leadership was positively received by analysts who valued the prospect of steady and enduring governance. As chairman, Nasser implemented pivotal strategic initiatives including a significant demerger, upheld rigorous financial controls during downturns in global metals and oil markets, and adjusted BHP’s progressive dividend policy—measures recognized by the Australian Financial Review as emblematic of a "new era."

In December 2012, Smart Company ranked him sixth among the "most influential figures in Australian corporate boards." He also joined the boards of 21st Century Fox in 2013 and Turkish conglomerate Koç Holding in 2015.

During the shale gas boom of 2011, Nasser oversaw a $20 billion investment into US shale oil and gas operations; however, declining oil prices resulted in pre-tax impairments totaling approximately $13 billion. By 2017, BHP was contemplating divesting these assets, with Nasser acknowledging that while the initial investment rationale was sound, market timing proved unfavorable.

Following the tragic Bento Rodrigues dam collapse in Brazil in November 2015, Nasser committed to allowing an independent external inquiry with findings to be publicly disclosed. He announced his decision to resign as chairman in 2017 but stayed on to manage the transition process. In June 2017, BHP named board member Ken MacKenzie as his successor effective September 1. Later that year, Nasser stepped down from his roles as director and chairman.

Recent positions (2017–2024)

As a director of 21st Century Fox, Nasser participated in critical board discussions in April 2017 concerning the status of Fox News host Bill O'Reilly amid publicized sexual harassment settlements.

Since 2015, he has been a board member of Koç Holding, Turkey’s largest conglomerate and a longstanding partner of Ford through its subsidiary Ford Otosan.

In 2018, Nasser endorsed Ignition Advice, an Australian company specializing in financial-advice software. After the sale of key assets from 21st Century Fox to Disney and the establishment of Fox Corporation in March 2019, he joined the new entity’s board as Lead Independent Director while also chairing its compensation committee and serving on the audit committee. Fox Corporation’s portfolio includes Fox News Channel, Fox Business Network, FS1, FS2, Fox Broadcasting Company, along with various television stations.

By 2021, Nasser was serving on Altimetrik’s advisory board and was part of the chairman’s panel for the Great Barrier Reef Foundation.

Honors and philanthropy

In 1999, the Retail Motor Industry Organization honored Nasser as the 'Automobile Industries Man of the Year.' He was designated an officer of Lebanon's premier distinction, the National Order of the Cedar, in 2002. That same year, Nasser received the title of Officer within the Order of Australia along with the Centenary Medal in recognition of his impact on Australian industry, advisory contributions to government, and advancements in technology education. The National Ethnic Coalition of Organizations (NECO) bestowed upon him the Ellis Island Medal of Honor for his significant immigrant contributions to the United States. Further acknowledging his achievements, the 2017 Queen's Birthday Honours in Australia named him a Companion of the Order of Australia for his leadership in mining, commitment to sustainable policy initiatives, and philanthropic efforts.

Nasser actively supports multiple scholarship initiatives aimed at fostering entrepreneurship and business studies. These include the Jacques Nasser Scholarship in Entrepreneurship at RMIT University, an MBA scholarship bearing his name at the American University of Beirut, and a scholarship program at INSEAD School of Business. Additionally, he established the Jacques Nasser Rural and Regional Scholarship at RMIT and contributes to organizations such as Focus: HOPE, a Detroit-based training center. In 2004, he created the Jacques Nasser Scholarship Fund to provide needs-based global entrepreneurship travel opportunities at RMIT. More recently, in 2021, he introduced the Jacques Nasser Fund for Innovation, designed to back startups that harness technology to generate positive societal change.

Personal life

Nasser married Jennifer, an Australian native, in 1970; together they have four children. By 2009, his primary residence was in Michigan, but following his appointment as chairman of BHP Billiton in 2010, he began splitting his time evenly between Michigan and Australia. He also owns homes in New York City, London, and Melbourne. Holding dual citizenship in Australia and the United States, he is commonly referred to by the nickname "Jac." An avid car enthusiast, Nasser has served as a judge at prestigious Concours d'Elegance events and possesses a 1961 Lincoln Continental.

External links

JacNasser.com (archived)