Ford Credit’s Harris to Retire, Be Succeeded by O’Callaghan; Kosman to Follow O’Callaghan as Ford Chief Accounting Officer
December 15 2023 - 9:00AM
Business Wire
- Marion Harris will retire in March, capping 25 years at Ford,
the past four as president and CEO, Ford Credit, which is
transforming itself into a highly customer-focused fintech
- Cathy O’Callaghan, a longtime global company leader and Ford’s
vice president and controller since 2018, to assume leadership of
Ford Credit in mid-February
- Mark Kosman, who has played a significant role in aligning
financial reporting with the Ford+ growth strategy and is
streamlining Ford’s ERP, selected to be chief accounting
officer
The accomplished leader of Ford’s customer-focused financial
services business will retire during the first part of next year
and be succeeded by a longtime company finance colleague.
Marion Harris will retire March 1 as president and CEO of
Ford Credit; he’ll be replaced by Cathy O’Callaghan, Ford’s
vice president, controller, and chief accounting officer since June
2018. Under Harris, Ford Credit developed and is implementing an
ambitious digitization and personalization of its customer
offerings, remaking itself into a true technology-based financial
services company, or “fintech.”
At the same time, Mark Kosman, presently director, Global
Accounting, has been chosen to succeed O’Callaghan as Ford’s chief
accounting officer.
The new roles for O’Callaghan and Kosman are effective Feb. 12,
after Ford has reported its fourth-quarter and full-year 2023
financial results. O’Callaghan and Kosman will report to CFO John
Lawler.
“Under Marion, Ford Credit was a source of strength through the
global pandemic and now is remaking itself to support customers,
dealers and Ford in an entirely new era of transportation and
software-enabled services,” Lawler said. “Cathy is exceptionally
well prepared to help complete that transition and grow the
business, with her comprehensive global knowledge about Ford and an
attention to customers that’s vital to winning over the long
haul.”
Harris became the head of Ford Credit in November 2019, having
previously served as the unit’s CFO and treasurer. Among other
strategically important roles in his 25 years with Ford was leading
market-defining capital transactions that funded Ford Credit
through the Great Recession. Harris also managed the Mobility
Business Group, which scaled the FordPass vehicle-control
application and the business that would become Ford Pro
Telematics.
“It’s really been an honor to serve this great American company
for so long and to be leaving Ford Credit financially strong, with
a great growth plan and a leadership team that will get it done,”
Harris said. “We’re transforming the experience for our customers
and dealers, so that Ford Credit remains a powerful reason why
people choose and stay with Ford Motor Company.”
O’Callaghan brings a wealth of global financial experience to
her new role. As Ford’s controller and chief accounting officer,
she led a huge project to align Ford’s financial reporting with the
three distinct, customer-centered business segments, which starting
this year represent how the company is organized and operates: Ford
Blue, for iconic gas and hybrid vehicles; Ford Model e, for
breakthrough vehicles, together with advanced digital platforms and
software for all of Ford’s product lines; and Ford Pro, for
products and services that help commercial customers maximize their
operations.
Previously, O’Callaghan was CFO of Ford South America and also
held key leadership positions in Ford of Europe: finance director
for Product Development, controller of European Manufacturing
Operations and Logistics, finance director of Ford of Britain, and
finance director of Ford Switzerland. She joined Ford in 1990.
According to Lawler, Kosman, who has been with Ford since 1989,
is ideal to serve as CAO. He had a major hand in the recent
financial-reporting strategic redesign and is presently leading
development of Ford’s new enterprise resource planning, or ERP, to
streamline accounting, procurement and supply chain operations,
project management, risk management, and compliance.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in
Dearborn, Michigan, committed to helping build a better world,
where every person is free to move and pursue their dreams. The
company’s Ford+ plan for growth and value creation combines
existing strengths, new capabilities and always-on relationships
with customers to enrich experiences for customers and deepen their
loyalty. Ford develops and delivers innovative, must-have Ford
trucks, sport utility vehicles, commercial vans and cars and
Lincoln luxury vehicles, along with connected services. The company
does that through three customer-centered business segments: Ford
Blue, engineering iconic gas-powered and hybrid vehicles; Ford
Model e, inventing breakthrough EVs along with embedded software
that defines exceptional digital experiences for all customers; and
Ford Pro, helping commercial customers transform and expand their
businesses with vehicles and services tailored to their needs.
Additionally, Ford is pursuing mobility solutions through Ford
Next, and provides financial services through Ford Motor Credit
Company. Ford employs about 177,000 people worldwide. More
information about the company and its products and services is
available at corporate.ford.com.
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