Cancel the cake and balloons. Frank Macher won't be returning to Ford Motor Co. after all.
Macher, who once ran the auto parts operations that Ford spun off in 2000 to create Visteon Corp., was to head a new Ford entity that will take back those foundering operations and try to sell them.
But Ford said it couldn't come to terms with Macher and instead will give the job to Al Ver, 59, Ford's vice president of advanced manufacturing engineering.
Macher, 63, ended a 30-year Ford career in 1996. He later spent three years trying to fix Federal-Mogul Corp., which he shepherded into Chapter 11 in 2001 to deal with asbestos liability claims.
Ver, a 33-year Ford veteran, will be CEO of the new entity that Ford and Visteon announced May 25. It doesn't have a name. Its mission: Sell 24 plants to suppliers that can keep parts flowing to Ford and, unlike Visteon, make some money.