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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

(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.

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)

Executive Vice President and Chief Financial Officer Don Leclair listens to a shareholder's question during the Ford Motor Company 2007 Annual Meeting of Shareholders. (Getty Images)

Ford executive Don LeClair, Group Vice President and Chief Financial Officer, listens to a question posed by a shareholder during the Ford Motor Company 2005 Shareholders Meeting in Delaware. (Getty Images)

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Ford CFO Says He'll Step Down

Longtime exec retires after grabbing timely loan ahead of crisis

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retirement • Ford • CFO • credit • auto industry • Don Leclair • Lewis Booth

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Mercury Line May Hit the Scrap Heap

Sales have slipped from half a million annually to 168K last year

Automakers Pushing 'Connected' Cars

Gizmos proliferate amid concerns on distracted driving

Ford Recalls 129K Cars: Wheels Might Fall Off

2010-11 Ford Fusions and Mercury Milans affected

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

End of an Era: Last Crown Vic

Final car rolls off Assembly line after 32 years

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Longtime exec retires after grabbing timely loan ahead of crisis

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OTHER STORIES ON OUR RADAR

retirement • Ford • CFO • credit • auto industry • Don Leclair • Lewis Booth

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

Mercury Line May Hit the Scrap Heap

Sales have slipped from half a million annually to 168K last year

Automakers Pushing 'Connected' Cars

Gizmos proliferate amid concerns on distracted driving

Ford Recalls 129K Cars: Wheels Might Fall Off

2010-11 Ford Fusions and Mercury Milans affected

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

End of an Era: Last Crown Vic

Final car rolls off Assembly line after 32 years

About Us

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Newser By Users

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What is Newser?