Ford announces new European boss

Ford Motor has announced that the executive in charge of the Mazda brand is to help run its money-losing European operations.

The news comes as the second largest carmaker in the world goes through a corporate turnaround.

The company, based in Dearborn, Michigan, has said that Lewis Booth will take over as president and CEO of Ford Europe while Hisakazu Imaki will take over as CEO and president of Mazda Motor.

Booth leaves Mazda to replace Martin Leach, who left Ford Europe in August. Ford owns about a third of Mazda and has seen it through the recent introduction of the new 6-series sedan and an upcoming flagship sports car.

In New York, shares of Ford Motor were up 4 cents to US$11.45.