President and COO to Retire
Ford Motor Co
07 April 2006
Contact: For Media Inquiries: For Investor Inquiries:
Oscar Suris Raj Modi
313-594-1106 313-323-8221
osuris@ford.com rmodi@ford.com
FORD PRESIDENT, COO JIM PADILLA TO RETIRE
• Padilla, a 40-year veteran of Ford Motor Company, is retiring as president and
chief operating officer, effective July 1.
• Bill Ford, chairman and chief executive officer, will assume Padilla's
responsibilities through the chairing of a new Executive Operating Committee
composed of the company's executive vice presidents.
DEARBORN, Mich., April 6, 2006 - Ford Motor Company today announced that Jim
Padilla will retire as the company's president and chief operating officer,
effective July 1, and that his responsibilities will be assumed by Chairman and
Chief Executive Officer Bill Ford through the chairing of a new Executive
Operating Committee composed of the automaker's executive vice presidents.
Padilla's retirement plans cap a distinguished 40-year career and include his
decision not to stand for re-election to the company's Board of Directors at the
Annual Meeting in May. The following month, Padilla celebrates his 60th
birthday.
'I'm grateful for the 40 years of service Jim Padilla has given to Ford Motor
Company. They reflect the commitment and dedication that make Ford people so
special in our industry,' Bill Ford said. 'The legacy of Jim's impassioned
leadership will be his tireless pursuit of excellence, his inspired championing
of workplace diversity and the mentoring he practiced that paved the way for so
many of our senior executives leading Ford today.'
Ford executives who have risen through the company's leadership ranks under
Padilla's tenure have included Mark Fields, executive vice president and
president, The Americas; Mark Schulz, executive vice president and president,
International Operations; Anne Stevens, executive vice president and chief
operating officer, The Americas; and Lewis Booth, executive vice president, Ford
of Europe and Premier Automotive Group.
'Bill Ford and I have worked hard to develop and assemble the best leadership
for the company,' Padilla said. 'We have the right team for the job at hand and
it is time for me to allow them to grow even further and transition into the new
roles that await them. It is because of these individuals, and the people they
lead, that I leave Ford with confidence in the company's future.'
As part of Padilla's transition to retirement, Fields and Schulz, who reported
to Padilla, will begin reporting directly to Bill Ford. Mr. Ford's other direct
reports remain unchanged. Additionally, Bill Ford will chair a new Executive
Operating Committee that will be composed of the company's executive vice
presidents, including Fields, Schulz, Stevens, Booth and Chief Financial Officer
Don Leclair.
Padilla joined Ford in 1966 as a quality control engineer. In 1976, he accepted
the first of a series of management positions in product engineering and
manufacturing. From 1992 to 1996, Padilla served in senior manufacturing,
engineering and general management roles at Jaguar during its critical
turnaround period.
From 1996 through 1998, he was president of Ford South America Operations, where
he was responsible for restructuring the company's operations after the breakup
of Autolatina, a joint venture with Volkswagen.
He was named group vice president, Global Manufacturing in 1999 and added the
Quality organization in 2001. From 2001 to 2002, he was group vice president,
North America, and was then elevated to executive vice president of the company,
president of The Americas. In that role, he was responsible for all operations
in the development, manufacturing, marketing and sales of Ford, Mercury and
Lincoln vehicles in the United States, Canada, Mexico and South America.
The Board of Directors appointed Padilla chief operating officer and chairman of
Automotive Operations in April 2004. He joined the Board of Directors and became
the company's president and chief operating officer in February 2005.
Padilla holds bachelor's and master's degrees in chemical engineering and a
master's degree in economics from the University of Detroit-Mercy. He was a
White House Fellow and served as special assistant to the U.S. Secretary of
Commerce in 1978 and 1979. In 2001, he was named a Fellow by the National
Academy of Engineering. Padilla is a member of the U.S. Department of Commerce's
Manufacturing Council. He also is the chair of the Corporate Board of Advisors
of the National Council of La Raza.
About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn,
Mich., manufactures and distributes automobiles in 200 markets across six
continents. With about 300,000 employees and 108 plants worldwide, the company's
core and affiliated automotive brands include Aston Martin, Ford, Jaguar, Land
Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-related services
include Ford Motor Credit Company. For information regarding Ford's products,
visit www.fordvehicles.com.
Go to http://media.ford.com for news releases and high-resolution photographs.
This information is provided by RNS
The company news service from the London Stock Exchange
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