COO Silverstone will be promoted to top spot, effective Jan. 1

Longtime Ford Credit CEO Bannister to retire

COO Silverstone will be promoted to top spot, effective Jan. 1

Article Tools
Reprint Reprints image Print
Send a letter Respond Size: larger  smaller
Related Links
Related Topics
Theresa Clift
Automotive News
October 24, 2012 - 12:01 am ET

DETROIT -- Ford Motor Credit Co. CEO Mike Bannister will retire after 39 years, Ford Motor Co. said this week.

Bernard Silverstone, Ford Credit's COO since January, will succeed Bannister, effective Jan. 1.

Bannister, 62, was appointed to the position in 2004. His previous positions include president and COO of Ford Credit, president of Ford Credit International and chairman of Ford Credit Europe.

Silverstone, 56, has served at Ford Credit for 33 years, previously leading Ford Credit's global marketing and sales and its international operations. Earlier, he was chairman of Ford Credit Europe. Silverstone joined Ford Credit Britain in 1979 as a field representative.

Under Bannister's leadership, Ford Credit provided distributions of more than $15 billion to support Ford's business, a press release said.

Ford Credit, founded in 1959, trails only Toyota Financial Services in U.S. market share, according to Experian Automotive.

Contact Automotive News

image Print   Send a letter Respond to Editor   Reprint Reprints        

COMMENTS

Have an opinion about this story?
Click here to submit a Letter to the Editor, and we may publish it in print.

Or submit an online comment below

Readers are solely responsible for the content of the comments they post here. Comments are subject to the site's terms and conditions of use and do not necessarily reflect the opinion or approval of Automotive News. Readers whose comments violate the terms of use may have their comments removed or all of their content blocked from viewing by other users without notification.