Ford Treasurer Acton Resigns
Mar. 12, 2002
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DEARBORN, Mich. (AP) _ Ford Motor Co. said Tuesday that vice president and treasurer Elizabeth Acton has resigned to become chief financial officer at the banking company Comerica Inc.
Malcolm Mcdonald, vice president, finance and treasury matters, was named interim treasurer at Ford.
Acton, 50, was appointed Ford treasurer in October 2000. Prior to that, she was executive vice president, finance, and CFO of Ford Motor Credit Co. She joined Ford in 1983.
``Being a chief financial officer of a major institution is something I've always been interested in,'' Acton said in a statement. ``Leaving the people at Ford makes this an especially difficult decision. The leadership of this company has been very good to me.''
At Comerica, Acton succeeds Ralph W. Babb Jr., who was appointed president and chief executive in January.
In trading Tuesday on the New York Stock Exchange, Ford shares fell 19 cents to close at $17.01, while Comerica shares rose 4 cents to close at $63.07.
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