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Marion Harris will retire in March, ending 25 years at Ford, the last 4 years as president and CEO of Ford Credit, which is dedicated to a highly customer-centric financial technology.
Cathy O’Callaghan, a longtime global leader and vice president and controller of Ford since 2018, will take the helm of Ford Credit in mid-February.
Mark Kosman, who has played a significant role in aligning financial reporting with the Ford+ growth strategy and is streamlining Ford’s ERP, selected to be chief accounting officer
DEARBORN, Mich., December 15, 2023–(BUSINESS WIRE)–The accomplished leader of Ford’s customer-focused financial services business will retire during the first part of next year and be succeeded by a longtime company finance colleague.
Marion Harris will retire on March 1 as president and chief executive officer of Ford Credit; He will be replaced by Cathy O’Callaghan, Ford’s vice president, comptroller and chief accounting officer since June 2018. Under Harris, Ford Credit has evolved and is implementing an ambitious digitization and personalization of its visitor offerings, transforming itself into a true generation company. . financial company, or “fintech”.
At the same time, Mark Kosman, most recently global chief accounting officer, was tapped to succeed O’Callaghan as Ford’s chief accounting officer.
O’Callaghan and Kosman’s new roles will go into effect on Feb. 12, after Ford reported its fourth-quarter and full-year 2023 earnings results. O’Callaghan and Kosman will report to Chief Financial Officer John Lawler.
“Under Marion, Ford Credit has been a source of strength during the global pandemic and is now restructuring to help visitors, dealers and Ford in a whole new era of transportation and software-based services,” Lawler said. “Cathy is uniquely poised to help lead this transition and grow the business, with her extensive global knowledge of Ford and visitor focus that is imperative to winning in the long run. “
Harris became Ford Credit’s chief monetary officer in November 2019, after serving as the unit’s chief monetary officer and treasurer. Among other strategically vital roles during his 25 years at Ford, he led market-defining equity transactions that financed Ford Credit during the Great Recession. He also led the Mobility Business Group, which evolved the FordPass vehicle control app, and the corporate one that would become Ford Pro Telematics.
“It has indeed been an honor to serve this wonderful American company for so long and to leave Ford Credit financially strong, with a wonderful expansion plan and a control team that will make it possible,” Harris said. “Transform the experience for our consumers and dealers, so that Ford credits remain a difficult explanation for why other people choose and stay with Ford Motor Company. “
O’Callaghan brings a wealth of global financial experience to her new role. As Ford’s controller and chief accounting officer, she led a huge 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 iconic gas and hybrid vehicles; Ford Model e, for breakthrough vehicles, together with advanced digital platforms and software for all of Ford’s product lines; and Ford Pro, for products and services that help commercial customers maximize their operations.
Previously, O’Callaghan was Chief Financial Officer of Ford South America and also held key leadership positions at Ford Europe: Chief Financial Officer of Product Development, Controller of Manufacturing and Logistics Operations in Europe, Chief Financial Officer of Ford Great Britain and Chief Financial Officer of Ford Switzerland. He joined Ford in 1990.
According to Lawler, Kosman, who has been with Ford since 1989, is ideally suited for the CAD role. He played a leading role in the recent strategic redesign of monetary reporting and has lately led the progression of Ford’s new commercial resource creation (ERP) plans. system, designed to streamline accounting, procurement, and supply chain operations, assignment control, threat control, and compliance.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company founded in Dearborn, Michigan, committed to helping build a better world, where everyone can move and pursue their dreams. The company’s Ford+ plan for expansion and cost creation combines existing assets, new features and ongoing visitor relationships to enrich the visitor experience and loyalty. Ford develops and manufactures cutting-edge, must-have Ford trucks, gaming application cars, vans and advertising cars, as well as Lincoln luxury cars and connected facilities. The company achieves this through three visitor-focused business segments: Ford Blue, which designs iconic gasoline and hybrid vehicles; Ford Model e, which invented revolutionary electric cars and embedded software that delivers exceptional virtual experiences for all consumers; and Ford Pro, which helps advertising consumers reshape and grow their businesses with cars and facilities tailored to their needs. Additionally, Ford is seeking mobility solutions through Ford Next and material financing facilities through Ford Motor Credit Company. Ford employs approximately 177,000 people worldwide. You can learn more about the company and its products and facilities at Corporate. ford. com.
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