Ford of Europe president Stephen Odell on the way out, says German magazine

Article by Christian A., on November 9, 2014

A German business magazine has reported that Stephen Odell will be replaced as president of Ford of Europe and will be appointed to a new position in the company. According to the Bilanz magazine, Ford chief executive Mark Fields will personally present Odell’s replacement to staff at its regional headquarters in Cologne, Germany.

The carmaker named Odell as chief executive of Ford of Europe in 2008 and promoted him as president in 2012. He joined Ford of Britain in 1980 as a graduate trainee. He also served as CEO of Volvo when the carmaker was still owned by Ford. He likewise headed Mazda's European operations and was North America sales and marketing chief for Jaguar.

A Ford of Europe spokesman told Automotive News Europe that the company would not comment on "speculation." Ford is forecasting $1.2 billion in losses in Europe this year as it revamp its operations in the region and takes a huge hit from crisis-stricken Russia.

During the Ford’s conference call to discuss its third-quarter results, Chief Financial Officer Bob Shanks remarked that the carmaker is "disappointed" that it will fail to achieve its previous target to post a profit in Europe in 2015 after its third-quarter pretax loss in the region surged widened to $439 million from $182 million a year ago.

Topics: ford, europe

If you liked the article, share on:

Comments

Recommended

The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Several automakers including Porsche, Volkswagen, Smart and even Land Rover have all been victimized by cheap Chinese copycats. And if you haven’t seen it yet, the most recent one would...
by - October 20, 2017
The Mercedes-Benz G-Class has been around for quite some time now but to bid it farewell, the company has launched the Mercedes-AMG G65 Final Edition. Mercedes will only build a...
by - October 20, 2017
Have you ever wondered what you can you buy with $9,365 in your pocket? Well, you have quite a lot of options. In fact, you can even purchase a used...
by - October 20, 2017
The Audi A7 Sportback, whether you would like to call it a sportback or a four-door coupe, has always been a beautiful car. And this week, the 2019 model year...
by - October 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries