Ford shuffles European executives, changes take place after company sells Volvo brand

Ford shuffles European executives

DEARBORN, Mich. — Ford Motor Co. is making a series of executive changes that it says will help it grow around the world.

In one of the key management shifts announced Thursday, Ford says executive vice president John Fleming, 58, will lead the company’s global manufacturing and labor affairs operations. He is now chairman and CEO of Ford of Europe.

Meanwhile, CEO of Volvo Cars Stephen Odell, 55, will become chairman and CEO of Ford of Europe.

And Volvo CFO Stuart Rowley, 43, will become chief financial officer at Ford of Europe.

All three appointments will take effect when Ford completes its sale of Volvo, which is expected later this quarter.

“These moves allow us to strengthen our global team as we … continue to profitably grow serving our customers around the world,” Ford President and CEO Alan Mulally said in a statement.  

Ford has an agreement to sell Sweden’s Volvo Car Corp. to Chinese automaker Zhejiang Geely Holding Group, but the deal is awaiting approval by Chinese government regulators.

Ford also announced that Jim Farley, its global marketing chief and head of Canada, Mexico and South American operations, will become the company’s global head of marketing, sales and service effective Aug. 1.

Zhejiang Geely announced Thursday that Chairman Li Shufu will become chairman of Volvo when the purchase from Ford is completed. The Chinese company also named Hans-Olov Olsson as Volvo’s vice chairman. Olsson is a former CEO of Volvo, the company said in a statement.

The Chinese automaker said it would make further management and board appointments at Volvo, including a new CEO and chief financial officer, before the sale is completed.

Ford shares fell 12 cents to $11.69 in morning trading Thursday.