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
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)
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(Newser) – 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.