Ford Credit's operations have returned to the oversight of Ford Motor Company vice chairman Allan D. Gilmour, a dealer on the side who came out of retirement in 2002 to help Ford Chairman and CEO William Clay Ford, Jr. straighten out finances.
Gilmour, 69, assumes the oversight of Ford Credit from Carl E. Reichardt, 71, a longtime company director who, from 1983 to 1994, served as chairman and CEO of Welss, Fargo & Company. Gilmour had been Ford Motor Co. CFO in 1986-87 and vice chairman from 1993 to 1994 when he retired for the first time.
Reichardt became vice chairman of Ford in October, 2001, and took charge of Ford Credit when it was gripped by severe losses due to over-inflated lease residuals and lenient credit policies. He will remain on the board as chairman of its finance committee, a job Bill Ford held before he became Ford Motor Co. chairman in January, 1999.
Gilmour turned over the Ford CFO post August 1 to Don R. Leclair, 51, a 25-year Ford veteran.
Gilmour owns a Ford-franchised dealership in St. Johnsbury, VT. It's operated by his nephew, John Gilmour. The store also handles Lincoln Mercury and is dualed with Chrysler-Dodge-Jeep.