Ford drafts retired exec to help navigate rough road

Associated Press

DEARBORN, Mich. — Ford Motor Co. pulled former high-ranking executive Allan Gilmour back from retirement Monday to help steer the carmaker back to profitability.

Gilmour, who is 67 and retired seven years ago, returns as chief financial officer. Chairman and chief executive Bill Ford said he was counting on Gilmour’s experience in dealing with prior setbacks.

"He’s helped us through tough times before and helped us to record profitability before," Ford said.

Ford lost $5.45 billion last year as it underwent a costly restructuring. It shed 35,000 employees and closed five plants in the United States.

Gilmour replaces Martin Inglis, who has been appointed group vice president of business strategy. The company said both moves were effective immediately.

At a news conference, Gilmour said he and Ford kept in touch over the past few years and his dedication to the company hadn’t flagged.

"Like a lot of people around here I do bleed Ford blue," said Gilmour.

"I believe my experience and knowledge base are still relevant."

Gilmour was with Ford for 34 years. He was vice chairman, a member of the office of the chief executive and on the company’s board of directors before retiring in 1995. He was twice passed over for CEO, in favor of Harold "Red" Poling and Alex Trotman.

He had been president of the Ford Automotive Group, at the time responsible for Ford, Lincoln and Mercury vehicles. He also served as chief finance officer, controller and president of Ford Motor Credit.

Upon leaving the company, Gilmour openly discussed his homosexuality — an unusual disclosure among top auto executives. He has worked in retirement to raise money for gay and lesbian issues.

Gilmour said he will keep ownership of a dual Ford-Chrysler dealership in Vermont, where he was born and raised. Unlike some of his counterparts at the other automakers, he’s not opposed to price-cutting incentives.

"Customers like incentives. I’m not going to spend my time saying this is something awful. We are going to be competitive every day," said Gilmour.

Gilmour said Ford’s biggest strength in its revitalization plan is its strong product line. The company should do more to promote it, he said.

Looking back at the automaker’s offerings early in his first go-round with the company, Gilmour cracked: "I would have said that 20 years ago but I wouldn’t have believed it."

John Casesa, an analyst with Merrill Lynch &Co., described the appointment as "clever, in that it adds much needed experience right now."