Ford Announced New Vice President
Ford Announced New Vice President
The Ford Motor Company, the second largest U.S. car manufacturer, announced that they have a new vice president and treasurer in the person of Neil Schloss. The new position for Schloss was reported to be “effective immediately”. He will be replacing the company’s outgoing vice president and treasurer Ann Marie Petach. Schloss will now be reporting to Don Leclair, Ford’s Executive Vice President and Chief Financial Officer.
Leclair has this to say after the appointment of Schloss as the new vice president and treasure: “Neil has played a critical role in securing the funding we need to implement our restructuring plan.” It can be remembered that the company has posted its biggest loss in its history last year. To turn around the company’s plight, FoMoCo has formulated a restructuring plan to return Henry Ford’s legacy to profitability. Schloss is seen to play a major role in that plan in his new position. “He’s (Schloss) taking the reigns of the office at a key time and his background and experience in treasury will be vital to our success going forward,” says Leclair.
Neil Schloss started his career with Ford back in the year 1982 as a senior financial analyst with the controller’s office in Ford Aerospace. After his stint at that position, Schloss held various treasury positions which include being the Director for Risk Management for Ford Motor Credit. He also became the director for Financial Strategy for the Dearborn based automaker.
He also served at one point as the manager of Ford’s North American and European Financing as well as the manager of European Financing. He also supervised Ford’s Corporate and Domestic Financing. Before Schloss was appointed as the new vice president and treasurer, he was the assistant treasurer for the company and he has held that very position since 2003.
Ann Marie Petach, the former vice president and treasurer for Ford that Schloss will be replacing, has opted to leave the company. She will be working for BlackRock which is an investment management company. “Ann Marie has been a valuable asset to the company and to the Finance team,” says CFO Leclair. “She’s worked tirelessly as we developed plans and implemented actions related to our turnaround efforts. We wish her every success,” added Leclair.
Ann Marie Petach went aboard the Ford family when she started as a financial analyst in Ford’s Electronic Division in 1984. Before she became the vice president and treasurer for FoMoCo, she held various positions in the company. Like Schloss, she served in the Ford Motor Credit in her career with the company including being the director for Global Banking. She also served as treasurer for AutoEuropa, a joint project between Ford and Volkswagen in Europe. She also became the assistant treasurer in another joint venture of Ford and Volkswagen in Brazil and Argentina called AutoLatina. While she may not have been involved in the manufacturing of Ford body parts, she made a positive impact on the company’s financial department.
Joe Thompson is the owner of a successful auto body shop in Ferndale, California. This 38 year old is also a prolific writer, contributing automotive related articles to various publications.
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