Ford’s Mulally: “I have no plans to retire” image

Two top Ford Motor Co executives — CFO Lewis Booth and Derrick Kuzak will retire April the U.S. based automaker said on Wednesday.

But CEO Alan Mulally says he has no plans to leave. He quickly named Controller Bob Shanks to replace Booth. Engineering chief Raj Nair will replace Kuzak.

Mulally came to Ford from Boeing Co. in 2006, as the Dearborn, Michigan-based automaker was beginning three years of losses that would total $30.1 billion.

“I read the news release very carefully and I do not find my name in it,” Mulally said of the company statement announcing the retirements of Booth and Kuzak.

“I have no plans to retire and I’m absolutely thrilled and honored to serve Ford.”

Also today, Ford said Jon Huntsman Jr., who recently ended his campaign for the Republican nomination for president of the U.S., was elected to the board if directors.

Ford reported its 11th consecutive profitable quarter Jan. 27, with net income of $13.6 billion, or $3.40 a share, boosted by a one-time tax gain of $12.4 billion.
For all of 2011, Ford’s profit excluding some items was $8.8 billion, or $1.51 a share, up $463 million from the previous year.