Mark Ovenden, current managing director at Ford of Britain, will be promoted to chairman when incumbent Joe Greenwell retires at the end of April.
Greenwell will step down from the role, held since 2009, following 40 years in the motor industry in a variety of roles, including chief executive at Jaguar Cars.
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Ovenden has been with Ford since 1985, and his promotion follows that of David Andrews to managing director of the UK operation of Ford Credit in September 2012.
Ford Motor Company recorded a pre-tax profit of $8bn (£5.38bn) in 2012, down 9.1% on 2011, including $1,697m profit from Ford Credit, down by 41.7%.
