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Ford Encounter Problems At Luxury Car Division

The Ford Motor Comopany Chief Executive Officer William Clay Ford Junior...

The Ford Motor Comopany Chief Executive Officer William Clay Ford Junior expected Wolfgang Reitzle, the head of the Volvo, Land Rover, Aston martin and Jaguar luxury car division, to bring back customers and revive the second largest automaker's market value. The plan is not working according to some analysts.

Reitzle, the 53 year old former executive at Germany's BMW who joined Ford in 1999, is considering resigning. Unless CEO Ford gives him a job where he does not report to Chief Operating Officer Nicholas Scheele, he is leaving, said a person familiar with the situation.

The dispute could not come at a worse time for Ford, which yesterday reported a first quarter loss of $800 million its fourth in a row. Ford has said he expects Reitzle's group to generate a third of the company's profit by mid-decade.

?Reitzle is a critical element in the company's strategy,? said Saul Rubin, a UBS Warburg auto analyst.

Author: Neftegaz.ru