Ford Credit Appoints Mike Bannister President and COO

DEARBORN, Mich., July 31 -- Greg Smith, chairman and CEO of Ford Motor Credit Co., today announced that Mike Bannister is appointed president and chief operating officer of the company.

Bannister, formerly president, Ford Credit International, will be responsible for taking a leadership role in shaping Ford Credit's future by overseeing its U.S. and international operations.

"Mike will be key to the company's success going forward as we look to continuously improve our operations in the U.S. and around the world," Smith said. "His leadership skills and background in the international arena make him a tremendous asset to Ford Credit."

With nearly 30 years of experience at Ford Credit, Bannister most recently headed up operations in Asia-Pacific, Europe and Latin America as president, Ford Credit International. Prior to that, he served as chairman, Ford Credit Europe, where he was responsible for developing and directing various sales, marketing and servicing operations and programs.

Bannister joined Ford Credit in 1973, and has held a number of branch and regional management operating positions in the Ford Credit North American regions. He also served as manager, Sales Analysis and Rate Administration, Marketing; vice president of Marketing in North America; and executive director, European Sales Operations. Bannister earned a bachelor's degree in business administration from Memphis State University.

Ford Credit is a wholly owned subsidiary of Ford Motor Company. Now in its 44th year, Ford Credit provides vehicle financing in 36 countries to more than 11 million customers and more than 12,500 automotive dealers. More information can be found at www.fordcredit.com and at Ford Credit's investor center, www.fordcredit.com/investorcenter/ .