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Old 06-24-2003, 08:33   #1 (permalink)
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North America : Ford CFO Gilmour will watch over credit arm

By Amy Wilson
Automotive News

Ford Motor Credit Co. will have a new overseer, CFO Allan Gilmour, when Vice Chairman Carl Reichardt retires.

Reichardt, 71, the former banker who helped shore up Ford Credit finances, will retire as vice chairman within a year, but will remain a member of Ford Motor Co.'s board of directors.

Reichardt became vice chairman in October 2001 after the ouster of CEO Jacques Nasser. In addition to putting Ford Credit on a more conservative path, he advised CEO Bill Ford on a restructuring plan for the troubled automaker.

Ford Credit's day-to-day operations continue to be led by CEO Greg Smith, who took over in late 2001.

Gilmour, 69, returned to Ford Motor as CFO and vice chairman in 2002 after retiring in 1994.

Gilmour's tenure with Ford Motor is expected to be brief, and the company had been seeking outside candidates for his replacement. At last week's annual meeting, Bill Ford indicated there is a plan for Gilmour's successor.

Asked if he were still searching for a new CFO, Bill Ford said, "No, not really. We've got a pretty good idea of what we want to do." He wouldn't elaborate.
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