• October 12, 2007

Toyota may not be bleeding red ink, but it appears to be bleeding marketers. After saying so long to Jim Press and Deborah Wahl Meyer, both now at Cerberus'-owned Chrysler LLC, Ford Motor said Thursday it has hired away long-time Toyota market wunderkind Jim Farley. Farley, 45, has been tapped to be Group Vice President of Marketing and Communications, starting mid-November.

"We are thrilled to welcome one of the most successful and talented leaders in the industry to the Ford Motor Company team," said CEO Alan Mulally, in a release, noting--without mentioning Scion by name--that Farley knows how to market to younger consumers. "Jim Farley is well known for innovative marketing strategies that connect great products to today's and tomorrow's customers."

Ford says Farley, who will be the company's most senior marketing leader reporting directly to Mulally, will work with the company's worldwide business unit leaders and global product development organization.

Farley was most recently Group vice president and general manager of Toyota's Lexus division. He joined Toyota in 1990.

--Karl Greenberg