Ford Motor (NYSE: F) said today that Marion Harris will retire on 1 March 2024 as president and CEO of Ford Credit. Replacing him will be Cathy O’Callaghan, Ford’s vice president, controller, and chief accounting officer since June 2018. Mark Kosman will become chief accounting officer. The new jobs for O’Callaghan and Kosman are effective 12 February, after Ford has reported its Q4 and full-year 2023 financial results. O’Callaghan and Kosman will report to CFO John Lawler. (AutoInformed: Follow The Leader – Ford Reinstates Earnings Guidance)
“Under Marion, Ford Credit was a source of strength through the global pandemic and now is remaking itself to support customers, dealers and Ford in an entirely new era of transportation and software-enabled services,” Lawler said. “Cathy is exceptionally well prepared to help complete that transition and grow the business, with her comprehensive global knowledge about Ford and an attention to customers that’s vital to winning over the long haul.”
Harris became the head of Ford Credit in November 2019, having previously served as the unit’s CFO and treasurer. Among other roles in his 25 years with Ford, Harris led the capital transactions that funded Ford Credit through the Great Recession. Harris also managed the Mobility Business Group, which scaled the FordPass vehicle-control application and the business that would become Ford Pro Telematics.
O’Callaghan brings global financial experience to her new role. As Ford’s controller and chief accounting officer, she led a project to align Ford’s financial reporting with the three distinct, customer-centered business segments, which starting this year represent how the company is organized and operates: Ford Blue, for gas and hybrid vehicles; Ford Model e vehicles, together with digital platforms and software for all of Ford’s product lines; and Ford Pro, for products and services that help commercial customers. Ford’s electric business – Model e – is forecast to lose ~$4.5 billion during 2023. (AutoInformed: Apple Software Veteran Peter Stern Joins Ford Motor; Ford Motor 2023 Q3 Net income $1.2 Billion)
Previously, O’Callaghan was CFO of Ford South America and also held leadership positions in Ford of Europe: finance director for Product Development, controller of European Manufacturing Operations and Logistics, finance director of Ford of Britain, and finance director of Ford Switzerland. She joined Ford in 1990.
According to Lawler, Kosman, who has been with Ford since 1989, is ideal to serve as CAO. He had a major hand in the recent financial-reporting strategic redesign and is presently leading development of Ford’s new enterprise resource planning, or ERP, to streamline accounting, procurement and supply chain operations, project management, risk management, and compliance.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Ford Credit to Regroup Next March
Ford Motor (NYSE: F) said today that Marion Harris will retire on 1 March 2024 as president and CEO of Ford Credit. Replacing him will be Cathy O’Callaghan, Ford’s vice president, controller, and chief accounting officer since June 2018. Mark Kosman will become chief accounting officer. The new jobs for O’Callaghan and Kosman are effective 12 February, after Ford has reported its Q4 and full-year 2023 financial results. O’Callaghan and Kosman will report to CFO John Lawler. (AutoInformed: Follow The Leader – Ford Reinstates Earnings Guidance)
“Under Marion, Ford Credit was a source of strength through the global pandemic and now is remaking itself to support customers, dealers and Ford in an entirely new era of transportation and software-enabled services,” Lawler said. “Cathy is exceptionally well prepared to help complete that transition and grow the business, with her comprehensive global knowledge about Ford and an attention to customers that’s vital to winning over the long haul.”
Harris became the head of Ford Credit in November 2019, having previously served as the unit’s CFO and treasurer. Among other roles in his 25 years with Ford, Harris led the capital transactions that funded Ford Credit through the Great Recession. Harris also managed the Mobility Business Group, which scaled the FordPass vehicle-control application and the business that would become Ford Pro Telematics.
O’Callaghan brings global financial experience to her new role. As Ford’s controller and chief accounting officer, she led a project to align Ford’s financial reporting with the three distinct, customer-centered business segments, which starting this year represent how the company is organized and operates: Ford Blue, for gas and hybrid vehicles; Ford Model e vehicles, together with digital platforms and software for all of Ford’s product lines; and Ford Pro, for products and services that help commercial customers. Ford’s electric business – Model e – is forecast to lose ~$4.5 billion during 2023. (AutoInformed: Apple Software Veteran Peter Stern Joins Ford Motor; Ford Motor 2023 Q3 Net income $1.2 Billion)
Previously, O’Callaghan was CFO of Ford South America and also held leadership positions in Ford of Europe: finance director for Product Development, controller of European Manufacturing Operations and Logistics, finance director of Ford of Britain, and finance director of Ford Switzerland. She joined Ford in 1990.
According to Lawler, Kosman, who has been with Ford since 1989, is ideal to serve as CAO. He had a major hand in the recent financial-reporting strategic redesign and is presently leading development of Ford’s new enterprise resource planning, or ERP, to streamline accounting, procurement and supply chain operations, project management, risk management, and compliance.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.