Ford Motor Co
25 August 2006
Contact: Oscar Suris
O: (313) 594 1106
C: (313) 595 4446
osuris@ford.com
ROBERT E. RUBIN RESIGNS FROM FORD BOARD OF DIRECTORS
• Cites Citigroup's Multi-faceted Relationship with Ford
• Bill Ford praises Rubin's contributions
DEARBORN, Mich., August 25, 2006 - Ford Motor Company (NYSE: F) announced today
that Robert E. Rubin, director, chairman of the Executive Committee and member
of the Office of the Chairman of Citigroup Inc., has resigned from the Ford
Board of Directors. Mr. Rubin joined the board in 2000.
In a letter to Bill Ford, Mr. Rubin said: 'As the Board undertakes its upcoming
review of strategic options, Citigroup's multi-faceted relationship with Ford
could raise a question whether my relationship with Ford and Citigroup creates
an appearance of conflict. Although no conflict currently exists and while I
would have liked to remain involved, I have with great regret concluded that I
should resign from the Board at this time.'
Commenting on the announcement, Chairman and Chief Executive Officer Bill Ford
said: 'I greatly appreciate the many valuable contributions Bob has made to Ford
Motor Company during his six-year tenure. He brought strategic thinking to every
situation and has been a wise and generous counselor to me and to the company.
However, I understand and respect Bob's prudent decision to resign as we
continue to explore future strategic options.'
Ford Motor Company, a global automotive industry leader based in Dearborn,
Mich., manufactures and distributes automobiles in 200 markets across six
continents. With about 300,000 employees and more than 100 plants worldwide, the
company's core and affiliated automotive brands include Aston Martin, Ford,
Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-related
services include Ford Motor Credit Company.
This information is provided by RNS
The company news service from the London Stock Exchange
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