Acton Resigns as Ford Treasurer

DEARBORN, Mich., March 12 -- Elizabeth S. Acton, vice president and Treasurer, announced today her resignation from Ford Motor Company . She will join Comerica Incorporated as executive vice president and chief financial officer.

During the next several weeks, she will work with Malcolm Macdonald, who is named interim Treasurer, to ensure an orderly transition. Macdonald was vice president, Finance and Treasury Matters. Acton's successor will be named at a later date.

``Beth Acton will be a great chief financial officer. She knows the banking industry and is a terrific leader,'' said Martin Inglis, chief financial officer, Ford Motor Company. ``She has done great work at Ford, and I wish her the best in her new role.''

Acton, 50, was appointed to her present position in October 2000. Before joining Ford in 1983, Acton was a vice president in the multinational banking group of Continental Bank in Chicago.

``Comerica is offering me a unique opportunity to leverage my experience in treasury and financial services,'' Acton said. ``Being a chief financial officer of a major institution is something I've always been interested in. Leaving the people at Ford makes this an especially difficult decision. The leadership of this company has been very good to me. And the treasury team is a great group. I will miss them all.''

Prior to becoming Treasurer of Ford, Acton was executive vice president, Finance, and chief financial officer of Ford Motor Credit Company. Before that, she was Ford's assistant treasurer. Acton's varied assignments have involved international financing, portfolio and foreign exchange management, cash flow forecasting, corporate finance and pension asset management.