Inglis, Cosgrove "Retire" from Ford

DEARBORN, Mich., Jan. 17, 2003; Ford Motor Company announced today the retirements of Martin Inglis, group vice president, Business Strategy; and William Cosgrove, vice president, chief financial officer, and chief of staff Premier Automotive Group. Both retirements are effective March 1.

Inglis, 52, became group vice president in May 2002, overseeing the company's business strategy, mergers and acquisitions, as well as Hertz. He was chief financial officer from August 2001 to May 2002. Previous to that, he was vice president, Ford North America.

Inglis joined Ford in 1971 as a graduate trainee in Ford of Britain. During his career at Ford, he has held positions of increasing responsibility in the areas of finance, strategy and general management. He worked in Asia, South America, Europe and the United States.

"Martin has made a huge contribution to Ford Motor Company, helping to get the company back on track," said Bill Ford, chairman and CEO. "We will miss him and wish him well in future endeavors."

Cosgrove, 57, has held his current position since July 1999. Prior to that, he was vice president, Business and Product Strategy. He led the acquisitions of Land Rover and Volvo Car and helped create the Premier Automotive Group.

"Throughout his 31 years with Ford, Bill has had an important impact on all of the areas he has touched in finance and operations around the world," said Mr. Ford. "We highly value his long service and thank him for his contribution."

During his career, Cosgrove served in a number of senior finance positions in Europe, Brazil, Argentina and South Africa.