Report: Ford Plans Management Changes

NEW YORK; Reuters is reporting that car maker Ford Motor Co.has new management changes on the cards as part of its efforts to bring the company back to profitability, the Wall Street Journal reported in its online edition on Friday.

Without naming sources, the paper said Ford was planning to appoint European operations head David Thursfield, known as a tough cost cutter, as the company's head of purchasing and international operations as it seeks to slash purchasing costs by $3 billion by 2005.

Thursfield, whose promotion could take place later in May, will replace Carlos Mazzorin, who is expected to retire later in 2002 as head of purchasing, Asia Pacific and South American operations, the newspaper added.

The investment community is concerned about Ford's turnaround efforts not being aggressive or fast enough, the Journal said.

During the annual stockholders meeting Thursday, Ford Chairman and Chief Executive William Clay Ford Jr. offered a more upbeat outlook in a move to soothe investors infuriated by last year's massive loss. He said he expected the company to make money this year.