25th Aug 2006 13:32
Ford Motor Co25 August 2006 Contact: Oscar Suris O: (313) 594 1106 C: (313) 595 4446 [email protected] ROBERT E. RUBIN RESIGNS FROM FORD BOARD OF DIRECTORS • Cites Citigroup's Multi-faceted Relationship with Ford • Bill Ford praises Rubin's contributions DEARBORN, Mich., August 25, 2006 - Ford Motor Company (NYSE: F) announced todaythat Robert E. Rubin, director, chairman of the Executive Committee and memberof the Office of the Chairman of Citigroup Inc., has resigned from the FordBoard of Directors. Mr. Rubin joined the board in 2000. In a letter to Bill Ford, Mr. Rubin said: "As the Board undertakes its upcomingreview of strategic options, Citigroup's multi-faceted relationship with Fordcould raise a question whether my relationship with Ford and Citigroup createsan appearance of conflict. Although no conflict currently exists and while Iwould have liked to remain involved, I have with great regret concluded that Ishould resign from the Board at this time." Commenting on the announcement, Chairman and Chief Executive Officer Bill Fordsaid: "I greatly appreciate the many valuable contributions Bob has made to FordMotor Company during his six-year tenure. He brought strategic thinking to everysituation and has been a wise and generous counselor to me and to the company.However, I understand and respect Bob's prudent decision to resign as wecontinue to explore future strategic options." Ford Motor Company, a global automotive industry leader based in Dearborn,Mich., manufactures and distributes automobiles in 200 markets across sixcontinents. With about 300,000 employees and more than 100 plants worldwide, thecompany's core and affiliated automotive brands include Aston Martin, Ford,Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-relatedservices include Ford Motor Credit Company. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
FDM Group