NEW YORK -- Ford Motor Co. is expected to call former Vice Chairman Allan Gilmour out of retirement to become chief financial officer, according to news reports Friday.
Gilmour's appointment would be yet another move by the struggling automaker to kickstart its turnaround.
Citing people familiar with the situation, the Wall Street Journal said Gilmour, who retired from Ford at the end of 1994 after working for the firm for 30 years, will succeed Martin Inglis, who became CFO in July, 2001. Inglis is expected to move to a new post overseeing corporate strategy and Ford's turnaround campaign, the paper added.
Ford is planning more management changes as part of its efforts to bring the company back to profitability. The Detroit Free Press reported Friday that Gilmour's appointment would coincide with the promotion of European operations head David Thursfield as new head of purchasing and international operations.
Thursfield, known as a tough cost cutter, would retain oversight of Ford of Europe while being able to put his mark on Ford's Japan and Asian operations, where the automaker has struggled. The international job is vacant, while Carlos Mazzorin, the 60-year-old head of global purchasing, Asia/Pacific and South American operations, is expected to retire.
Ford aims at cutting costs by $3 billion by 2005.
Investors, infuriated by the firm's massive loss in 2001, are concerned that Ford's turnaround efforts are not aggressive or fast enough.
contributed to this report.