FDM Group Regulatory News (FDM)

21 Nov 2007 07:00

Ford Motor Co20 November 2007 Contact: Marcey Evans 313.322.9211 mevans13@ford.com AL VER TO RETIRE FROM FORD MOTOR COMPANY DEARBORN, Mich., Nov. 20 - Al Ver, Ford Motor Company vice president and CEO andCOO, Automotive Components Holdings (ACH), has elected to retire at the end ofthe year, after a 35-year career with the Ford Motor Company. Ver joined Ford in 1972 as a manufacturing process engineer at the Mt. Clemens(Mich.) Paint Plant. He has held a number of engineering and manufacturingpositions within Ford and its component operations during his career. Prior tohis current assignment, Ver served as vice president for Ford's AdvancedManufacturing Engineering organization. As the head of ACH, he reported to MarkFields, executive vice president and president, The Americas. "Al has consistently contributed to Ford's engineering and manufacturingorganizations throughout his career and most recently has done an outstandingjob in leading ACH through its transition," said Fields. "We wish Al and hisfamily well as they move into the next phase of their lives." Ver will be succeeded by Bill Connelly, who has been named chief executiveofficer, ACH. Connelly will retain his CFO responsibilities for ACH. During thetransition, Al Ver will report to Alan Mulally, president and CEO, for a specialproject. Connelly will lead the Ford-managed, temporary business entity comprised offormer Visteon Corp. plants and facilities in the U.S. and Mexico, as itcontinues preparing the operations for sale or closure by the end of 2008. Hewill report to Joe Hinrichs, vice president, North America Manufacturing. "Bill has been with ACH from the start and knows the component businesses withinthe group, as well as the component industry," Fields said. "We continue tooperate in a very challenging environment, and having Bill at the helm isreassuring to me and everyone on the team." Connelly, a U.S. Marine Captain, joined Ford's Finance staff in 1972. Throughouthis career, he has held a variety of positions within Finance, includingcontroller of Ford's North America Automotive Operations and Ford CustomerService Division, and director of the company's Investor Relations department.Connelly was instrumental in the negotiations to form ACH in 2005, and as itsCFO, he has significantly reduced operating costs and helped to progress ACH'srestructuring plans. Ford Motor Company, a global automotive industry leader based in Dearborn,Mich., manufactures or distributes automobiles in 200 markets across sixcontinents. With about 250,000 employees and about 100 plants worldwide, thecompany's core and affiliated automotive brands include Ford, Jaguar, LandRover, Lincoln, Mercury, Volvo and Mazda. The company provides financialservices through Ford Motor Credit Company. For more information regardingFord's products, please visit www.ford.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