DEARBORN, Mich. -
On Tuesday afternoon, Ford revealed the leader who will assume the role of chief financial officer for Ford Motor Credit at the start of 2011 when K.R. Kent moves into the position of executive director of investor relations for Ford.
The captive’s new CFO, effective Jan. 1, will be Michael Seneski, whose current post is Ford’s controller of global and U.S. marketing and sales.
Seneski has been with the automaker since 1989. His experience with Ford includes an assortment of financial roles in North America and Asia-Pacific. Among those posts are time as vice president and controller at Ford Credit North America and as the automaker’s assistant treasurer.
In his new role, he reports to Ford Credit chairman and chief executive officer Mike Bannister.
“We are pleased to have a finance professional of Michael’s caliber as CFO of Ford Credit as we continue our mission of providing financing support for Ford customers and dealers around the world,” said Bannister.
“Michael’s knowledge of Ford Credit and treasury will be an asset as we continue to ensure that Ford Credit remains a competitive advantage for Ford Motor Co. going forward,” Bannister added.
As far as Kent’s new position, he will be responsible for heading up the enhancement to Ford’s inventory relations segment. Kent — who will report to Neil Schloss, Ford’s vice president and treasurer — is also charged with helping Ford and Ford Credit become more engaged with investment community on the equity and fixed income fronts.
Kent has been with the automaker since 1987 and has worked in several finance roles, as well. Among those are Ford of Europe’s controller for product development and Ford’s assistant treasurer.
“K.R. brings to this new position a deep knowledge of Ford, Ford Credit, the automotive and credit industries, and the global investment community,” stated Ford executive vice president and CFO Lewis Booth.
“As we continue to make progress on our One Ford plan and move toward an investment grade credit rating, we are committed to providing the investment community with authoritative and highly credible insight into our automotive business and Ford Credit,” he added.