William Clay Ford Jr. and Jacques Nasser want to create a 21st century Ford Motor Co. that is a fiscal powerhouse and an environmental leader. The two men say they share a unifying vision.
They want to lead Ford as partners, fostering a nimble, global corporation conscious of its Ford-family heritage and corporate responsibilities.
On 11 September, Ford announced that company Chairman and President Alex Trotman, 65, will retire 1 January, 1999, a year earlier than anticipated.
William Ford Jr., 41, the great grandson of company founder Henry Ford, has been elected chairman, returning a Ford family member to that position after 18 years.
Nasser, 50, was named president and chief executive officer.
The changes are effective 1 January. Nasser, currently president of Ford Automotive operations, joins the board of directors immediately.
Nasser keeps his current duties, including responsibility for automotive operations, and gains the company activities that have reported to Trotman. He will remain as chairman of Ford of Europe.