By Bill Koenig
Ford Names Schulz to Lead South American Operations (Correct)
(Corrects spelling of Schulz in first and third paragraphs.)
Dearborn, Michigan, July 29 (Bloomberg) -- Ford Motor Co. gave Mark Schulz, president of its Asia Pacific unit, added responsibility for South American operations as the second-largest automaker shifts executive assignments.
The decision is related to the appointment of David Thursfield, 56, as head of purchasing and international business, said spokesman Christian Vinyard. Thursfield, who starts his duties on Thursday, took over responsibilities from Carlos Mazzorin, 60, who becomes senior adviser to the office of chairman and chief executive.
Thursfield has delegated day-to-day South American responsibility to Schulz, Vinyard said. Schulz, 50, is based at Ford's Dearborn, Michigan, headquarters and will have the title of vice president for Asia Pacific and South American Operations starting Thursday, the spokesman said. Schulz will report to Thursfield, who has been head of Ford's European operations and remains the unit's chairman.
Chief Executive Officer William Clay Ford Jr. has been putting his own management team in place since taking over as chief executive in October, when the board ousted Jacques Nasser. The shares have lost about half their value in the past 12 months as the company tries recover from last year's $5.45 billion loss.
Ford rose 57 cents to $13.17 in New York Stock Exchange composite trading as of 2:54 p.m. New York time.