CHAMPCAR/CART: Nasser to be replaced by Ford Jr. as CEO

Motorsport.com (October 29, 2001) -- The news that has been expected will be announced on Tuesday, October 30th. Jac Nasser, current Ford Motor Company Chief Executive Officer, will be leaving Ford. William Clay Ford Jr., the current Chairman of...

Motorsport.com (October 29, 2001) -- The news that has been expected will be announced on Tuesday, October 30th. Jac Nasser, current Ford Motor Company Chief Executive Officer, will be leaving Ford. William Clay Ford Jr., the current Chairman of the Board, will become the CEO.

The surprise is that Ford Jr. will be the CEO and that move will put a Ford family member back in the driver's seat. Since July, Ford Jr. has been working side-by-side with Nasser on day to day activities when the company created the new position -- Office of the Chairman and CEO -- a position that is likely to now go away.

[UPDATE: Senior management changes announced at Ford Motor Company

Nasser was named President and CEO in 1999 when Alex Trotman retired as Chairman and CEO. Ford Jr. moved from Chairman of the Board of Directors' Finance Committee to Chairman of the Board at the same time.

Additional management changes will also be announced over the next several days and weeks. One of the moves will include moving Nick Scheele, Vice President North America into the to be created Chief Operation Officer position. Scheele was one of the key players in turning around the Jaguar unit when he was head of Ford of Europe and inside of Ford, he is known as "Mr. Fix-It".

Scheele's former position will no doubt go to Jim Padilla, current Vice President Manufacturing and Quality.

Ford Jr. is the great-grandson of Henry Ford, the company founder and the son of William Clay Ford Sr. (owner of the Detroit Lions football team.) He is also the nephew of the former CEO, Henry Ford II (now deceased).

2001 has seen ups and downs for the company -- Firestone tire recall, loses in the stock market, market share drop and sales slumps for the downside. During the same time, Ford has celebrating '100 Years in Racing' climaxing in two major events: The unveiling of the Ford 1901 Model at the Henry Ford Museum -- the vehicle won the only race Henry Ford race Ford competed in and the prize money allowed Henry Ford to start the company; and the gala event with the 'Legends of Ford Racing' at the Greenfield Village.

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Series Automotive , Formula 1 , IndyCar , NASCAR
Drivers Henry Ford , Alex T