Ford Motor Company (NYSE:F) shares are trading lower on Friday. The company said that Sherry House will be joining Ford in June. House has experience across automotive, tech, and startups, with a plan to become CFO early next year as the company drives profitable growth across segments, particularly EVs, software, and services.
House served as CFO at Lucid Group, Inc. (NASDAQ:LCID) for nearly three years until last December, a period in which the company went public, started producing and delivering its luxury EVs, and opened manufacturing plants in the U.S. and Saudi Arabia.
"Sherry adds an important leadership dimension to Ford as we urgently build a profitable EV business, generate new and recurring revenue streams, and create a more dynamic and resilient company," Ford President and CEO Jim Farley said.
"Sherry combines deep roots and a passion for the auto industry with real-world experience in investment banking, mobility and technology, including EVs and autonomy," Farley added.
Ford Motor also said that John Lawler, Ford's CFO since October 2020, will initially continue in that role while also becoming vice chair, a position in which he will lead the company in areas critical to its long-term success.
As vice chair, Lawler will focus on the next phase of Ford's strategic development, including important choices across technologies, markets, alliances and segments.
Price Action: F shares are trading lower by 1.36% to $11.97 at last check Friday.
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