Lewis W.K. Booth, executive vice president and CFO of Ford Motor Co., Dearborn, Mich., plans to retire on April 1.
Bob Shanks, vice president and controller at Ford, will succeed Mr. Booth and assume his titles.
Mr. Booth oversees Ford's pension and investment group, which oversees the company's $67.2 billion in defined benefit and defined contribution assets, said Todd Nissen, manager, corporate and supplier communications.
Mr. Booth said in January that Ford plans to lower its pension funds' equity exposure and raise alternatives and fixed-income allocations as part of a move in the next few years to fully fund its worldwide $15.4 billion pension plan deficit, including the $9.4 billion underfunding in its U.S. plans, a strategy that will be continued under Mr. Shanks.
Ford's U.S. defined benefit plans had $39 billion and its non-U.S. plans, $18.6 billion in assets, while its U.S. defined contribution plans had $9.6 billion.
