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CFO John Devine to Leave Ford Motor Company in September

20 May 1999

CFO John Devine to Leave Ford Motor Company in September

    DEARBORN, Mich., May 20 -- John M. Devine, Ford Motor Company
executive vice president and chief financial officer, has elected to
retire at the end of September 1999.
    "John has served the company with distinction for more than 31 years and
in a wide range of assignments around the Ford world," said Jacques Nasser,
Ford Motor president and chief executive officer.  "In his present position,
John has played a key leadership role in the company's strategic direction,
shareholder value focus and in building Ford's credibility with the investment
community."
    Effective July 1, W. Wayne Booker, vice chairman, will assume the
additional role of chief financial officer.  Pete Pestillo, vice chairman and
chief of staff, will assume the added responsibility for the oversight of
Visteon Automotive Systems, Hertz and Ford Land.  Devine will work with Booker
and Pestillo during the next several months to ensure a smooth transition of
responsibilities.
    "I've had the privilege of working for a great company and with an
outstanding team around the world," Devine said.  "It's been a difficult
decision, but at this time I want to explore other opportunities involving
wider responsibilities.  Because of the overall strength of the management
team and the company's financial position, it's a good time for me to make the
transition."
    Devine, who was named group vice president and CFO in October 1994, had
previously spent six years as president, and later chairman and CEO, of First
Nationwide Bank, then a Ford subsidiary.
    Devine joined Ford in 1967 as a finance analyst in Ford Division.  He held
a variety of supervisory and managerial positions between 1970 and 1977 in
Product Development and Finance.  In 1977, he moved to Ford of Europe where he
served in a number of finance positions before being appointed controller -
Product Development in 1981.
    Devine was named staff director - Finance for Ford Asia-Pacific in 1983.
He was appointed vice president of Northern Pacific Business Development and
president of Ford Motor Company (Japan) in 1986.  Also in 1986, Devine joined
the Board of Directors of Mazda Motor Corp.  In 1988, Devine was named
controller - Truck Operations.
    "On behalf of the entire Ford team, I want to wish John and his family the
very best in the future," Nasser said.  "While John's leadership and
dedication will be missed, the Ford management team is very deep."