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March 21, 2019

Ford names new CFO, Europe president

Ford has named a replacement for its retiring CFO and a new head for the European operations, among other appointments.

By Olly Wehring

Ford has named a replacement for its retiring CFO and a new head for the European operations, among other appointments.

The automaker said chief financial officer Bob Shanks would retire at the end of 2019 and be succeeded by Tim Stone who served 20 years at Amazon and as CFO of Snap.

Stone, 52, joins Ford on 15 April as a company officer and becomes CFO on 1 June, reporting to president and CEO Jim Hackett.

Peter Fleet, president of newly established International Markets Group, will also retire, replaced, on 1 April, by Mark Ovenden, currently president of Middle East & Africa.

The group will become a reporting business unit on 1 January, 2020 and oversee almost 100 markets, including operations in Africa, ASEAN, Australia, India, Mexico, Middle East, New Zealand and South Korea, as well as a number of emerging and distributor markets around the world. The formation of this new business unit follows the recent establishment of China as a standalone business unit.

Ovenden, 54, will report to Jim Farley, president of Ford Global Markets.

Ford of Europe

Ford also announced that Stuart Rowley, currently chief operating officer for Ford North America, is appointed to the role of president, Ford of Europe, taking on operational leadership of the business unit, including acceleration of the European transformation strategy. In recent months, he has worked on transformation planning with Steven Armstrong.

Rowley, 51, succeeds Armstrong who was named chairman, Ford of Europe. In this new role, Armstrong, 54, will oversee key transformation projects and joint venture partner interactions for the region, as well as lead engagement with European governments on key industry legislation and issues.

Both roles will report to Farley and are effective from 1 April.

Birgit Behrendt, vice president, joint ventures, alliances and commercial affairs in Europe will also retire after a 40-year career that included purchasing in Europe and the US and oversight of global purchasing operations. She is currently the main interface with the company's joint venture and alliance partners as well as supporting the establishment of the strategic alliance with Volkswagen. After 1 April, she will remain a member of the Ford Werke supervisory board.

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