Ford CFO Leclair Retires

October 10, 2008
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Ford logo

Ford Motor Company's chief financial officer, Don Leclair, is retiring as the automaker faces the bleakest times since at least the late 1970s.

Leclair worked for the second-largest domestic automaker for 32 years, joining in 1976. He has served as the CFO since 2003.

Leclair, 56, has the unusual distinction of being replaced by someone older than he: 59-year-old Lewis Booth. Booth is associated with successful turnarounds at Ford of Europe and at Mazda.

Ford stock is trading at a little over $2 a share as the financial markets buffet auto stocks, and as the market reels from the impact of the gutting and reshaping of the banking and investment industries.

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