• December 1, 2006

Hans-Olov Olsson, Ford Motor's chief marketing officer and nonexecutive chairman of Volvo Cars, will retire effective Jan. 1. The automaker did not announce a replacement for the position of chief marketing officer, but said Lewis Booth has been elected to replace Olsson as Volvo chairman. Booth will continue in his role as executive vice president, Ford of Europe and Premier Automotive Group, Ford said.

The change is the latest in a series of executive changes occurring since Boeing's Alan Mulally took the corner office from former CEO Bill Ford.

Today, Martin Collins, 43, former executive director of marketing, begins his new job as southeast regional VP at Group 1 Automotive, a dealership chain. Anne Stevens, former COO of Americas, Steve Lyons, former Ford division marketing VP, and Steve Hamp, chief of staff, have all left the company.

Earlier this week, Ford announced that for the first time, the company will raise $18 billion in cash by mortgaging its U.S. assets--including plants, and that 38,000 of its 75,000 hourly workers will take an early buy-out.