Bernard Silverstone, who joined Ford Financial Britain in 1979 as a truck-financing representative, was yesterday named as the next chairman and CEO of Ford Motor Credit Company, based at its world headquarters in Dearborn, Michigan.
Silverstone, 57, assumes his role in 1 January 2013, replacing current chairman and CEO Mike Bannister, 62, who is retiring after a 39-year at Ford’s captive finance provider.
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Silverstone is currently chief operating officer at Ford Credit, a role he began in January. He previously led Ford Credit’s marketing and sales operations globally and the company’s international operations, covering all Ford Credit business outside North America. Before that, was chairman of Ford Credit Europe.
During his 33-year career with Ford Credit, Silverstone has also held a wide variety of staff, operations and leadership positions in the North American, European and Asia Pacific regions.
Bannister said: "Bernard’s broad global experience and consistent delivery of profits and distributions will ensure Ford Credit’s continued value to the Ford enterprise. Bernard also is deeply committed to building on our strong relationships with Ford dealers, customers and employees."
On a national level, David Andrew was similarly appointed as the new managing director of Ford Credit’s UK operation in September.
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