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Tag Archives: Cathy O’Callaghan
Ford Credit to Regroup Next March
Ford Motor (NYSE: F) said today that Marion Harris will retire 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. Continue reading
Ford Motor New Financial Reporting – Billions in EV Losses
Part of today’s presentation showed Ford’s nascent electric vehicle venture – Ford Model e – lost $3 billion before taxes during 2021 and 2022. More such losses are coming in the near term. Helping stem the tide of red ink, Ford Blue – its traditional internal combustion business – is forecast to post a $7 billion pretax profit in 2023, marginally better than last year. Ford Pro is forecast to earn $6 billion before taxes, almost double 2022 earnings. Other business units include corporate, Ford Credit and Ford Next, dubbed a new business incubator. Continue reading
Ford Motor Shakes Up Senior Management During Sexual Harassment Debacle
Ford Motor Company today announced changes to its senior management team as it struggles with numerous sexual harassment charges, electrification and mobility business shifts that threaten its future. With a couple of exceptions the management team is y-chromosome male. Continue reading
FDIC Conditionally Approves Ford Credit Industrial Bank
“I am excited to share that Ford Credit’s global banking footprint is taking a significant step forward. Following conditional approval from the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions, we are set to launch a U.S. industrial bank in Salt Lake City,” said Cathy O’Callaghan is president and CEO of Ford Credit. Continue reading →