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Old 12-14-2004, 23:16   #1 (permalink)
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US:Scheele to serve as Ford con******t when he retires

Scheele to serve as Ford con******t when he retires

Reuters

DETROIT -- Ford Motor Co. President Nick Scheele will serve as a con******t to the second-largest U.S. automaker for a year after his retirement in February, the company said on Tuesday.

The British-born executive, who led Ford's restructuring efforts after the Firestone tire crisis, will be paid $150,000 quarterly in consulting fees, according to a filing with U.S. securities regulators.

Scheele, 60, oversaw the restructuring program Ford launched in 2002, when it cut 35,000 jobs or 10 percent of its work force. He is also credited with turning around Ford's Jaguar division in the 1990s.

The post-retirement deal, beginning Feb. 1 and lasting through Jan. 31, 2006, includes advising Ford on its European and Premier Automotive Group operations, which include Jaguar, Volvo, Land Rover and Volvo, according to Ford.

Former Ford purchasing and international operations chief David Thursfield, who retired in May, is also a con******t with the company. Thursfield is being paid $900,000 annually for two years ending April 28, 2006, for advising Ford on business strategy, product development and cost reduction.
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