DEARBORN, Mich. (AP) — A day after reporting a surprise profit for its third quarter, Ford Motor Co. says two of its senior executives are retiring.
Ford said Tuesday that 62-year-old John Parker will step down at the start of the new year as executive vice president for its Asia Pacific and Africa operations. He has been with the company for 41 years.
The automaker also says 55-year-old Phil Spender will step down at the start of 2010 as a Ford vice president and executive vice president of its affiliate Mazda Motor Corp.
On Monday, Ford posted a third-quarter profit of $997 million as it cut costs by more than $1 billion and its key North American car and truck division recorded its first quarter in the black since early 2005.
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