2/14/2019, 8:22 PM (Source: TeleTrader)
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Ford's CFO Bob Shanks to retire

Ford Motor Co.'s chief financial officer and executive VP Bob Shanks is retiring, local media reported on Thursday, following lower than expected fourth quarter financial results.

The automaker has hired an executive search firm to find a replacement for Shanks, who has been with Ford since 1977, Detroit Free Press stated, adding the executive will stay on with the company until an appropriate replacement is found.

"Bob has had a great career and is widely loved at Ford. He was instrumental in the North American turnaround that saved the company," a senior executive told the media outlet.

Earlier, Ford will recall approximately 1.5 million vehicles in North America due to inadvertent shifts to the vehicles' first gear which caused accidents.

Breaking the News / MD