The accomplished leader of Ford’s customer-focused financial services business will retire during the first part of next year and be succeeded by a longtime company finance colleague.
Marion Harris will retire March 1 as president and CEO of Ford Credit; he’ll be replaced by Cathy O’Callaghan, Ford’s vice president, controller, and chief accounting officer since June 2018. Under Harris, Ford Credit developed and is implementing an ambitious digitization and personalization of its customer offerings, remaking itself into a true technology-based financial services company, or “fintech.”
At the same time, Mark Kosman, presently director, Global Accounting, has been chosen to succeed O’Callaghan as Ford’s chief accounting officer.
The new roles for O’Callaghan and Kosman are effective Feb. 12, after Ford has reported its fourth-quarter and full-year 2023 financial results. O’Callaghan and Kosman will report to CFO John Lawler.
“Under Marion, Ford Credit was a source of strength through the global pandemic and now is remaking itself to support customers, dealers and Ford in an entirely new era of transportation and software-enabled services,” Lawler said. “Cathy is exceptionally well prepared to help complete that transition and grow the business, with her comprehensive global knowledge about Ford and an attention to customers that’s vital to winning over the long haul.”
Harris became the head of Ford Credit in November 2019, having previously served as the unit’s CFO and treasurer. Among other strategically important roles in his 25 years with Ford was leading market-defining capital transactions that funded Ford Credit through the Great Recession. Harris also managed the Mobility Business Group, which scaled the FordPass vehicle-control application and the business that would become Ford Pro Telematics.
“It’s really been an honor to serve this great American company for so long and to be leaving Ford Credit financially strong, with a great growth plan and a leadership team that will get it done,” Harris said. “We’re transforming the experience for our customers and dealers, so that Ford Credit remains a powerful reason why people choose and stay with Ford Motor Company.”
O’Callaghan brings a wealth of global financial experience to her new role. As Ford’s controller and chief accounting officer, she led a huge project to align Ford’s financial reporting with the three distinct, customer-centered business segments, which starting this year represent how the company is organized and operates: Ford Blue, for iconic gas and hybrid vehicles; Ford Model e, for breakthrough vehicles, together with advanced digital platforms and software for all of Ford’s product lines; and Ford Pro, for products and services that help commercial customers maximize their operations.
Previously, O’Callaghan was CFO of Ford South America and also held key leadership positions in Ford of Europe: finance director for Product Development, controller of European Manufacturing Operations and Logistics, finance director of Ford of Britain, and finance director of Ford Switzerland. She joined Ford in 1990.
According to Lawler, Kosman, who has been with Ford since 1989, is ideal to serve as CAO. He had a major hand in the recent financial-reporting strategic redesign and is presently leading development of Ford’s new enterprise resource planning, or ERP, to streamline accounting, procurement and supply chain operations, project management, risk management, and compliance.
SOURCE: Ford
