Reichardt Retires from Ford, Remains on Board

Ford Motor Company announced today the retirement of Carl E. Reichardt as vice chairman of Ford Motor Company. Reichardt, 71, remains a member of the Ford Motor Company Board of Directors, on which he has served since 1986, and will remain chair of the board's Finance Committee.

Reichardt also will serve as a member of the company's Financial Advisory Board, and through it will remain involved with Ford Motor Credit Company, which, as Ford vice chairman, he helped lead through a dramatic turnaround. Ford Credit now will report to Allan Gilmour, vice chairman and chief financial officer, Ford Motor Company.

"I am deeply grateful to Carl for serving as vice chairman and making such an important contribution to the company at a critical time in our history," said Bill Ford, chairman and CEO. "I am pleased that he will remain involved in the company through his position on the board of directors."

"Working to help right the direction of this great company has been a gratifying and memorable experience," said Reichardt. "Under Bill's leadership, the company is in great hands as it embarks on its second hundred years."

Reichardt became vice chairman of Ford Motor Company in October 2001, reporting to Bill Ford, who became chief executive officer at that time. Previously, Reichardt served as chairman and chief executive officer of Wells Fargo & Company from 1983 through 1994.

PRNewswire -- June 16