MUNICH -- Ford declined to comment on a report that it will move Stephen Odell, the head of its money-losing European unit, to a new role within the automaker.
Odell, 59, will be replaced as Ford of Europe president by a candidate from within the company, the German business magazine Bilanz said in an advance notice of a story it will publish Friday.
A Ford of Europe spokesman told Automotive News Europe that the company would not comment on "speculation."
Ford expects to lose $1.2 billion in Europe this year as it restructures its operations in the region and takes a big hit from Russia where Western sanctions sparked by the Ukraine crisis have hit car sales.
Presenting the automaker's third-quarter results on Oct. 24, Chief Financial Officer Bob Shanks said the company is "disappointed" it will not achieve its previous target to turn a profit in Europe next year.
Ford’s third-quarter pretax loss in Europe widened to $439 million from $182 million a year earlier.
Bilanz said Ford CEO Mark Fields will present the company's new European chief to staff at its regional headquarters in Cologne, Germany, but did not say when this would happen or name the person.
Ford appointed Barb Samardzich, 56, the company's former global product program chief, as Ford of Europe's chief operating officer reporting to Odell on Nov. 1, 2013.
Odell was named Ford of Europe CEO in 2008 and promoted to president of the company's European operations in 2012.
The London-born executive joined Ford of Britain in 1980 as a graduate trainee. During his career he was CEO of Volvo when the Swedish automaker was owned by Ford. He also led Mazda's European operations and held the post of Jaguar's North America sales and marketing chief.