Ford names new N. America manufacturing head

Ford Motor Co. on Thursday named an executive from Ford Europe to head its North America manufacturing business where several truck plants are undergoing conversions to build more fuel-efficient cars.

The appointment of James Tetreault as vice president of North America manufacturing, effective December 1, fills a vacant position and will allow Ford's global head of manufacturing, Joe Hinrichs, to focus on global issues, Ford said.

"He is coming back to fill a role at a critical time for the company," spokeswoman Marcey Evans said.

Ford has posted net losses of $8.7 billion (£5.8) in the first nine months of 2008 amid a downturn that has pushed U.S. auto industry monthly sales to the lowest rates in a quarter century and sent the leaders of the Detroit-based automakers to Washington in pleas for $25 billion of government aid.

Ford shares hit the lowest level since the early 1980s on Thursday as prospects dimmed those U.S. lawmakers would reach a compromise on the proposed $25 billion of bridge loans to support the industry.

Ford is generally seen in better financial shape than rivals General Motors Corp and Chrysler.

Tetreault, 52, has been the vice president of manufacturing in Europe. His role will include leading efforts to improve manufacturing flexibility in North America as Ford retools plants for smaller, more fuel efficient vehicles.

Tetreault was on a three-year assignment to Europe that has ended and he will be succeeded there by Ken Macfarlane, 58. Macfarlane has been director of manufacturing operations for Ford's North American truck business.

Tetreault and Macfarlane will report to Hinrichs and Macfarlane also will report to John Fleming, executive vice president and chairman and CEO of Ford in Europe.

Ford shares were down 12 cents, or 9.52 percent, at $1.14 Thursday on the New York Stock Exchange, after sinking as low as $1.02 on the exchange.

Views:0

share: