Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective March 1, 2020, James D. Farley, Jr., currently President, New
Businesses, Technology and Strategy of Ford Motor Company ("Ford"), is elected
Chief Operating Officer of Ford. Mr. Farley's compensation arrangements will be
the subject of an amended 8-K filing.
Joseph R. Hinrichs, President, Automotive, has elected to retire from Ford
effective March 1, 2020. In addition to the regular compensation and benefits to
which he is entitled, Mr. Hinrichs will also receive the following: (i) payments
equal to two years of his annual salary as of February 1, 2020, paid in equal
monthly installments beginning in March 2020, provided the monthly payments will
cease upon Mr. Hinrichs obtaining other employment, and (ii) benefits under the
Company's Select Retirement Plan, which in general adds three years of age and
contributory service for purposes of calculating retirement benefits.
The Company's news release announcing the election and retirement is attached to
this Report as Exhibit 99 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
EXHIBITS*
Designation Description Method of Filing
Exhibit 99 News Release dated February 7, 2020 Filed with this Report
Exhibit 104 Cover Page Interactive Data File **
(formatted in Inline XBRL)
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