Stephen Odell

Stephen Odell

A report in a Swiss business magazine says that Ford of Europe CEO Stephen Odell is to move to a new position within the company under a reorganisation.

The report in Bilanz has resulted in a flurry of speculation today. A Ford spokesman told just-auto that "we do not comment on speculation".

However, just-auto understands that further news is expected soon.

Odell is currently executive vice president and president of Europe, Middle East and Africa, and his company biog says that he is "leading Ford's transformation in Europe, with a focus on using the One Ford plan to achieve profitable growth through an unprecedented focus on new products, a strong brand and increased cost efficiency."

Ford's European unit booked a third quarter pre-tax loss up US$257m year on year to US$439m. For the full year, Ford continues to expect Europe to incur a loss of about US$1.2bn, an improvement compared with 2013.

Currently reporting to him as Ford Europe's COO is Barb Samardzich. She recently told just-auto that a worsening European environment has put a return to profitability back beyond 2015.

See also: INTERVIEW: Ford Europe COO Barb Samardzich