Ford CFO Says He'll Step Down

Longtime exec retires after grabbing timely loan ahead of crisis
By Kevin Spak,  Newser Staff
Posted Oct 10, 2008 12:41 PM CDT
Ford CFO Says He'll Step Down
Don Leclair (far left) sits with other Ford officials during the company's annual shareholders meeting, Thursday, May 8, 2008, in Wilmington, Del.   (AP Photo/Rob Carr)

Ford CFO Don Leclair will retire at the end of the month after 32 years with the company, the struggling automaker said today. Leclair has drawn praise for snagging $25 billion in loans for the company before the credit markets dried up, a move that may ensure Ford’s survival through the crunch, the Detroit Free Press reports. Ford of Europe exec Lewis Booth will replace Leclair. (More Ford stories.)

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