Report: Ford to outline high-level management changes

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Posted 8:56AM on Monday, May 20, 2002

DEARBORN, Mich. - Ford Motor Co. plans to announce a new round of high-level management changes as soon as Monday as part of the automaker's turnaround effort, according to published reports. Ford is expected to announce that Allan Gilmour, 67, a retired Ford vice chairman, is returning to his former job as Ford's chief financial officer, according to the Detroit Free Press and The Detroit News. Martin Inglis, chief financial officer since July, is to shift to a corporate strategy position and report to Gilmour, the News reported Sunday. Ford of Europe Chairman David Thursfield, 57, will become group vice president, international operations, and head of global purchasing. Ford spokesman Nick Sharkey said that the company did not have anything to announce Sunday, and declined to confirm whether an announcement would come Monday. The changes, four months into the company's restructuring, would solidify Chairman Bill Ford's management team and place Thursfield in line to eventually succeed Nick Scheele as president and chief operating officer. Ford announced a restructuring plan in January that calls for closing at least five plants and reducing its work force by 35,000 employees. The company is focusing on a "back-to-basics" strategy to revitalize its business. Ford's management reshuffling began with the ouster in October of Jacques Nasser as chief executive. Bill Ford promoted Scheele, 58, to the company's No. 2 position and coaxed Carl Reichardt, 70, out of retirement to oversee Ford's financial affairs as vice chairman. Investors and industry analysts consider Thursfield to be a major talent at a company in need of strong leadership. But it is the anticipated return of Gilmour, reported Friday by the Free Press, that could reverse Wall Street sentiment on the Dearborn-based company. "Gilmour adds beef to the finance staff," said Stephen Girsky, senior auto analyst for Morgan Stanley in New York. "He's a seasoned Ford veteran. He doesn't need the money. He's doing it to support Bill (Ford). If anyone can tell the CEO the truth, Allan can." Thursfield's replacement in Europe is expected to be Martin Leach, a vice president who works on product development, the News reported, while Leach would become president and chief operating officer of Ford of Europe and purchasing boss Carlos Mazzorin would assume unspecified duties. ------ On the Net: Ford Motor Co., http://www.ford.com