WILLIAM CLAY FORD JR., the great-grandson of Ford Motor Co. founder Henry Ford, will become chairman of the company on 1 January 1999.
Ford, 41, will succeed Alex Trotman, who will retire after six years as chairman, president and chief executive officer. Jacques Nasser, the No. 2 executive who has led Ford's financial turnaround, was named president and chief executive officer.
Trotman said the board has 'concluded that the roles of the chairman and of the chief executive officer should be separated.'
'My vision for the company is product leadership, the highest quality and customer satisfaction, and environmental leadership,' said Ford, who has held a variety of posts within Ford Motor Co.