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Ford Executive Resigns — Cannot Work From Germany

The Ford Motor Company executive Wolfgang Reitzle has resigned...

The Ford Motor Company executive Wolfgang Reitzle has resigned as the head of the luxury car division in the first major shakeup under Chief Executive Officer William Clay Ford Junior, who is counting on increased sales of Volvos and Jaguars to boost profit levels at the group.

Mark Fields, 41, president of Ford's Mazda Motor Corporation affiliate, will replace Reitzle, who will become the chief executive of the German industrial gas manufacturer Linde.

Bill Ford installed Nicholas Scheele as the chief operating officer last autumn, a move that people familiar with the situation said chafed Reitzle by adding a manager above him. Ford said that Reitzle had not pressed him for a new position at the automaker.

?There was this perception he made this demand upon me and I said no,? Ford said on a conference call. ?The real issue with Wolfgang was he wanted run his own show, to be CEO and do it in Germany.?

Author: Neftegaz.ru