7th Apr 2006 14:59
Ford Motor Co07 April 2006 Contact: For Media Inquiries: For Investor Inquiries: Oscar Suris Raj Modi 313-594-1106 313-323-8221 [email protected] [email protected] 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 JimPadilla will retire as the company's president and chief operating officer,effective July 1, and that his responsibilities will be assumed by Chairman andChief Executive Officer Bill Ford through the chairing of a new ExecutiveOperating Committee composed of the automaker's executive vice presidents. Padilla's retirement plans cap a distinguished 40-year career and include hisdecision not to stand for re-election to the company's Board of Directors at theAnnual Meeting in May. The following month, Padilla celebrates his 60thbirthday. "I'm grateful for the 40 years of service Jim Padilla has given to Ford MotorCompany. They reflect the commitment and dedication that make Ford people sospecial in our industry," Bill Ford said. "The legacy of Jim's impassionedleadership will be his tireless pursuit of excellence, his inspired championingof workplace diversity and the mentoring he practiced that paved the way for somany of our senior executives leading Ford today." Ford executives who have risen through the company's leadership ranks underPadilla's tenure have included Mark Fields, executive vice president andpresident, The Americas; Mark Schulz, executive vice president and president,International Operations; Anne Stevens, executive vice president and chiefoperating officer, The Americas; and Lewis Booth, executive vice president, Fordof Europe and Premier Automotive Group. "Bill Ford and I have worked hard to develop and assemble the best leadershipfor the company," Padilla said. "We have the right team for the job at hand andit is time for me to allow them to grow even further and transition into the newroles that await them. It is because of these individuals, and the people theylead, that I leave Ford with confidence in the company's future." As part of Padilla's transition to retirement, Fields and Schulz, who reportedto Padilla, will begin reporting directly to Bill Ford. Mr. Ford's other directreports remain unchanged. Additionally, Bill Ford will chair a new ExecutiveOperating Committee that will be composed of the company's executive vicepresidents, including Fields, Schulz, Stevens, Booth and Chief Financial OfficerDon Leclair. Padilla joined Ford in 1966 as a quality control engineer. In 1976, he acceptedthe first of a series of management positions in product engineering andmanufacturing. From 1992 to 1996, Padilla served in senior manufacturing,engineering and general management roles at Jaguar during its criticalturnaround period. From 1996 through 1998, he was president of Ford South America Operations, wherehe was responsible for restructuring the company's operations after the breakupof Autolatina, a joint venture with Volkswagen. He was named group vice president, Global Manufacturing in 1999 and added theQuality 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 operationsin the development, manufacturing, marketing and sales of Ford, Mercury andLincoln vehicles in the United States, Canada, Mexico and South America. The Board of Directors appointed Padilla chief operating officer and chairman ofAutomotive Operations in April 2004. He joined the Board of Directors and becamethe company's president and chief operating officer in February 2005. Padilla holds bachelor's and master's degrees in chemical engineering and amaster's degree in economics from the University of Detroit-Mercy. He was aWhite House Fellow and served as special assistant to the U.S. Secretary ofCommerce in 1978 and 1979. In 2001, he was named a Fellow by the NationalAcademy of Engineering. Padilla is a member of the U.S. Department of Commerce'sManufacturing Council. He also is the chair of the Corporate Board of Advisorsof 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 sixcontinents. With about 300,000 employees and 108 plants worldwide, the company'score and affiliated automotive brands include Aston Martin, Ford, Jaguar, LandRover, Lincoln, Mazda, Mercury and Volvo. Its automotive-related servicesinclude 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 ExchangeRelated Shares:
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