DEARBORN, Mich., Oct. 10 /PRNewswire-FirstCall/ -- Ford Motor Company (NYSE: F) today announced that Chief Financial Officer Don Leclair will retire Nov. 1 after an accomplished 32-year career. Lewis Booth -- who played a leading role in the successful transformation of Ford of Europe and Mazda during the past decade -- will become the company's Executive Vice President and Chief Financial Officer.

'Don's expertise and business acumen have been invaluable to Ford,' Ford President and CEO Alan Mulally said. 'Under his leadership, Ford has made significant progress in lowering costs, improving quality, improving efficiency, divesting non-core assets, improving our balance sheet and moving us to our One Ford.'

Leclair and Booth will work together in the coming weeks to ensure a smooth transition.

'Lewis Booth is one of the strongest and most experienced leaders within Ford and the auto industry,' Mulally said. 'He was instrumental in the transformation of Mazda and Ford of Europe to profitability and growth. He has built a strong and successful team in Ford of Europe that is well positioned to continue the momentum. And he has put in place new leadership at Volvo to turn around its results and build the strength of this premium brand.'

Booth comes to the CFO position with broad operational experience in Europe, Asia and North America as well as a deep background in finance and product development.

'Lewis' global experience, track record and many years of leadership in Ford's finance operations make him the ideal CFO,' Mulally said. 'He has proven success integrating Ford of Europe into a profitable, lean and highly efficient operation.