Sir John Bond, group chairman of HSBC Holdings plc, has been elected to the Ford Motor Company Board of Directors, William Clay Ford, Jr., chairman of the board, announced yesterday (13/07/00).

"Sir John adds a tremendous amount of global perspective to the board, particularly in key areas where Ford is strategically growing its business," Bill Ford said. "His innovative leadership in the international banking industry will be invaluable as we accelerate the transformation of our business to a consumer-focused company."

Bond joined HSBC in 1961 and served as executive director of The Hongkong and Shanghai Banking Corp. from 1988 to 1992. He was president and chief executive officer of Marine Midland Bank Inc., now known as HSBC USA Inc., from 1991 to 1993. He also served as group chief executive at HSBC from 1993 to 1998, and has been group chairman since 1998.

He is chairman of the Institute of International Finance, a member of the Banking Advisory Group of the International Finance Corporation, and a fellow of the Chartered Institute of Bankers. In 1999, Bond was knighted for his services to the banking industry.

Sir John's appointment, which is effective July 12, 2000, brings the Ford board membership to 14. This is the third appointment of a board member since William Clay Ford, Jr. became chairman on Jan. 1, 1999.

Most recently, Jorma Ollila, chairman and chief executive officer of Nokia Corp., was elected to the Ford board on Jan. 12 of this year. Former U.S. Treasury Secretary Robert E. Rubin was elected to the Ford board on Nov. 11, 1999.