Ford CFO's retirement would bring more uncertainty at 'tough' time: analyst [MarketWatch]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: MarketWatch
Ford CFO's retirement would bring more uncertainty at 'tough' time: analyst The retirement of Ford Motor Co. F, +1.25% Chief Financial Officer Bob Shanks would "only bring more uncertainty to Ford in a tough operating environment," analyst Chris McNally at Evercore ISI said in a note Friday. "If (Chief Executive) Jim Hackett is the 'visionary,' Bob has his nose to the grindstone," the analyst said. Wall Street has known Shanks, who started at Ford in the 1970s and became CFO in 2012, likely would retire soon, but the retirement would take place "at the beginning of the company's turnaround rather than its fruition," McNally wrote. CNBC reported Thursday that Shanks was readying his retirement , which would be announced in the second half of the year. Shares of Ford rose 1.4% on Friday; they are down 21% in the past 12 months, which contrasts with gains of 1.4% for the S&P 500 index. SPX, +0.80% Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin ema
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