Ford Motor Company has appointed Tim Stone as its new CFO with effect from 1 June.
Ford Motor Company chief financial officer Bob Shanks plans to retire from the company at the end of 2019. He will be succeeded by Amazon finance veteran Tim Stone.
In a statement, Ford President and CEO Jim Hackett said:
“Bob will leave a remarkable 42-year legacy at Ford. As a CFO, he’s been relentless in driving for results and pushing the company to greater heights. He’s also been a wonderful colleague who leads with integrity, warmth and humor. Bob’s leadership was integral to Ford’s comeback during the great recession, and he has been an invaluable partner as we transform Ford to succeed in the next era.”
Bob will be working closely with Tim Stone, who will succeed him, on the CFO transition and then work on special projects through the end of the year.
Tim is an accomplished finance executive who served 20 years at Amazon Inc and as Snap Inc CFO. He will join Ford on 15 April as a company officer and assume the role of CFO on 1 June.
“We’re so excited to have Tim join Ford at this incredible time for our company as we strive to become the world’s most trusted company, designing smart vehicles for a smart world,” Hackett said. “He was a key player in the incredible success at Amazon and knows how to deliver day-to-day results while at the same time evaluating, prioritizing and shepherding along customer-focused investments that can deliver exponential growth in the near and long term.”
He said that Tim comes from the tech space, but brings an appreciation for Ford and the auto industry to the job.
Before earning his bachelor’s degree in accounting from the University of Southern California, he worked for his father, a general contractor and plumber.
About his move, Tim said:
“Thirty years ago, through my father’s business, I witnessed firsthand the importance of Ford to our economy and our community. I am honored to join this iconic company and put my experience building the businesses of the future toward helping Ford build its next 100 years.”