Ford’s CFO Lewis Booth, global product development chief Derrick Kuzak to retire in April

Article by Christian A., on February 10, 2012

Two of Ford Motor Co.’s most prominent personalities -- CFO Lewis Booth and global product development chief Derrick Kuzak – will be retiring on April 1. They have been instrumental in the recovery of the automaker. In a statement, Ford said that the successor of 63-year-old Booth is Bob Shanks, the company’s vice president and controller.

Meanwhile, Ford will replace 60-year-old Kuzak with Raj Nair, who is the current vice president of engineering for global product development. Ford said that 59-year-old Shanks and 47-year-old Nair will take on their new roles on April 1.

Booth was one of the names mentioned as a likely successor to Ford CEO Alan Mulally, who will be turning 67 years old in August. Mulally hasn’t said anything about what he plans for retirement except to say that Ford has a deep executive bench.

During a media conference call, Mulally said that Ford is “absolutely committed to a robust succession plan.” In a statement, Bill Ford, the automaker's executive chairman, said that Booth and Kuzak stand for the “very best of Ford and our culture and built a legacy of leadership, integrity and commitment to excellence” that would help the company for many years.

He said that Booth and Kuzak had been “absolutely integral” to Ford’s return and so they would be retiring with the company’s “deepest respect and gratitude." After suffering losses of over $30 billion from 2006 through 2008, Ford was then able to post three straight years of profit. Mulally denied reports that he plans to retire by the end of 2013. He started working in Ford from Boeing Co. in 2006 as the car company was heading to a $12.6 billion loss for that year.

Topics: ford

If you liked the article, share on:

Comments

Recommended

Mitsubishi finally introduces the new Xpander MPV at the 2017 Indonesia International Auto Show in Jakarta Indonesia. Replacing the previous Expander, the new multipurpose vehicle will be mostly sold at...
by - August 16, 2017
Infiniti revealed its retro Prototype 9 race car before its slated debut at 2017 Pebble Beach Concours d'Elegance next week. In a recent press release, the company not only disclosed...
by - August 16, 2017
In the United States, not many automakers offer crossovers with a diesel engine option, but Chevrolet does, with their 2018 Equinox. Those who opt for this engine will get some...
by - August 16, 2017
Here are some things that potential buyers of the Ford F-150 and Ford Expedition could look forward to for the 2018 model year. The 2018 models of the F-150 pickup...
by - August 15, 2017
We first saw the McLaren 720S earlier this year when it made its debut at the Geneva Motor Show, and we all agree that it is a beautiful car. But...
by - August 15, 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