Ford Credit Chairman and CEO Bernard Silverstone to Retire After 37 Years; Joy Falotico Named as Successor
August 30 2016 - 9:00AM
Business Wire
- Bernard Silverstone to retire as Ford
group vice president and chairman and chief executive officer of
Ford Motor Credit Company, after 37 years of service
- Joy Falotico is named Ford group vice
president and chairman and chief executive officer, Ford Motor
Credit Company
Ford Motor Company today announced that Bernard Silverstone,
Ford group vice president and chairman and chief executive officer
of Ford Motor Credit Company, has elected to retire effective Oct.
1, after 37 years of service.
Silverstone, 60, will be succeeded by Joy Falotico, who is being
named Ford group vice president and Ford Credit chairman and chief
executive officer.
“Bernard’s global expertise and strong leadership have been key
to Ford Credit’s continued profitability and growth, as well as new
financial solutions for mobility,” said Mark Fields, Ford president
and CEO. “Throughout his career, Bernard has worked tirelessly to
ensure Ford Credit continues to be an important part of our
success. We are grateful for his dedication and many contributions
around the world.”
Since becoming Ford Credit chairman and CEO in January 2013,
Silverstone also has guided the company in continually improving
dealer and customer services, and maintaining low credit losses
while providing consistent levels of automotive financing.
“It has been a privilege to spend my career with this
outstanding team and to have had the opportunity to lead Ford
Credit’s contributions to Ford’s success,” Silverstone said. “Joy
is an experienced and trusted leader with a sharp focus on driving
strong business fundamentals. She is in a great position to lead
Ford Credit’s success.”
Falotico, 49, has served at Ford Credit for 27 years and will
continue the company’s strategies to improve and expand its
business in support of the One Ford plan for profitable growth.
Prior to this appointment, Falotico was chief operating officer,
leading Ford Credit’s global operations, as well as marketing,
sales and brand, business center operations and insurance
operations.
Falotico joined Ford Credit in 1989 and has held a wide range of
senior positions, including executive vice president, Ford Credit
Marketing, Sales, Americas and Strategic Planning; vice president
of North American operations; vice president of U.S. Sales
Operations; vice president of Global Marketing; and had
pan-European responsibility for customer and dealer service
operations and risk management for Ford Credit Europe.
- For biographical information and photos
of Bernard Silverstone, click here.
- For biographical information and photos
of Joy Falotico, click here.
About Ford Motor Company
Ford Motor Company is a global automotive and mobility company
based in Dearborn, Michigan. With about 203,000 employees and 67
plants worldwide, the company’s core business includes designing,
manufacturing, marketing, financing and servicing a full line of
Ford cars, trucks, SUVs and electrified vehicles, as well as
Lincoln luxury vehicles. At the same time, Ford aggressively is
pursuing emerging opportunities through Ford Smart Mobility, the
company’s plan to be a leader in connectivity, mobility, autonomous
vehicles, the customer experience, and data and analytics. The
company provides financial services through Ford Motor Credit
Company. For more information regarding Ford, its products
worldwide or Ford Motor Credit Company, visit
www.corporate.ford.com.
About Ford Motor Credit Company
Ford Motor Credit Company is a leading automotive financial
services company. It provides dealer and customer financing to
support the sale of Ford Motor Company products around the world,
including through Lincoln Automotive Financial Services in the
United States, Canada and China. Ford Credit is a subsidiary of
Ford established in 1959. For more information, visit
www.fordcredit.com or www.lincolnafs.com.
For news releases, related materials and
high-resolution photos and video, visit www.media.ford.com.
Follow at www.facebook.com/ford,
www.twitter.com/ford or www.youtube.com/fordvideo1
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Ford Motor CompanySusan
Krusel313.322.7998skrusel@ford.comorBrenda
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