(RTTNews) – Auto giant Ford Motor Co. (F) has announced the appointment of John Lawler as new Chief Financial Officer, overseeing the Finance and Ford Motor Credit organizations.
Lawler will succeed Tim Stone, who has accepted a position as COO and CFO at ASAPP Inc., a research-driven, artificial-intelligence software company. Stone will remain with Ford through October 15 to ensure a smooth transition.
CEO Jim Farley said, “John knows our company inside-out, has a clear view and great ambition for what Ford can be, and articulates what’s needed to get there. As CFO, he will help assure we have the means to fund those ambitions.”
On Thursday, October 1, Farley succeeded Jim Hackett as Ford’s president and CEO. Farley said Ford plans to move with urgency to turn around its automotive operations – improving quality, reducing costs and accelerating the restructuring of underperforming businesses.
Farley said the company’s objectives include top-line growth, operational excellence, high quality and customer satisfaction, sustained adjusted EBIT margins of 8%, strong automotive adjusted free cash flow.
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