DETROIT -- Neil Schloss, who helped Ford Motor Co. avoid bankruptcy during the Great Recession and became CFO of the automaker's mobility arm, plans to retire at the end of December, Ford said Thursday.
Schloss, 59, has spent 36 years at Ford and served in a number of financial roles, including a decade as treasurer.
He most notably helped the automaker secure a $23 billion loan in 2006 by mortgaging most of its assets to help survive the economic downturn. Then in 2009, Schloss led a creative debt buyback plan that cleared $10.5 billion off Ford's books for $3.5 billion in cash and equity.
In 2016, he became the founding CFO of Ford's mobility unit, which was created to explore and invest in mobility services, information technology and global data insight and analytics. Ford said it would name a successor at a later date.
"For almost four decades, Neil has played an important role in driving our business forward," Ford CEO Jim Hackett said in a statement. "It was appropriate that he finish his career at Ford by helping to start the businesses that will be core to our future."
Schloss reports to Marcy Klevorn, president of Ford Mobility.
"Under Neil's leadership, we have been able to establish Ford Mobility as a robust business unit designed to create value for the company for years to come," Klevorn said in the statement. "We're fortunate that someone of Neil's global experience and deep knowledge was able to guide us through this important foundational stage of our company's transformation."
Ford's mobility arm has invested heavily in self-driving vehicles and is exploring alternative modes of transportation, such as shuttle services and bicycle rentals.
Schloss joined Ford in 1982 in the controller's office at Ford Aerospace, where he held a variety of positions. He joined Ford's treasurer's office in 1991.
Since then, he has held a number of positions in funding, risk management, international financing, banking and trading with both Ford and Ford Credit.
Schloss was appointed treasurer and elected a corporate officer in March 2007.