Ford Motor Realigns Its Executive Staff

Ford Motor Co. on Friday announced a realignment of its executive staff, including the election of Pete Pestillo as vice chairman and the retirement of seven vice presidents.

The management realignment at the No. 2 U.S. auto maker, effective Jan. 1, coincides with the retirement of Chairman Alex Trotman and the ascension of William Clay Ford Jr. as chairman and Jacques Nasser as chief executive and president.

The responsibilities of the seven retiring vice presidents--who are all older than 55--are being assumed by several people. The auto maker also announced promotions or additional duties for 20 other executives.

“We’re adjusting the management and keeping it lean and nimble to fit the needs of the future,” Nasser said. “Experienced members of the team will succeed the retiring management and lead the company into the competitive battles of the future.”

Pestillo, 60, was elected vice chairman and chief of staff, with responsibility for human resources, governmental affairs, legal affairs and public relations.

Wayne Booker, 64, will remain as a vice chairman with responsibility for assisting with the transition to the new management team.

John Devine, 54, continues as executive vice president and chief financial officer and assumes responsibility for the Hertz rental car unit; Ford Land, the company’s real estate arm; and Visteon, the auto maker’s parts operation.

Craig Muhlhauser, 50, was elected a vice president and named president of Visteon, succeeding Charles Szuluk. Henry Wallace, 52, was elected group vice president in charge of Asia-Pacific operations.

Ford’s stock added $3.13 to close at $44.25 on the New York Stock Exchange.