March 11, 2005
William Clay Ford Sr. to retire
Dearborn, Michigan – William Clay Ford, Sr., son of the late Edsel Ford and the only surviving grandson of company founder Henry Ford, has announced his intention to retire from the Board of Directors of Ford Motor Company after nearly 57 years of service.
Ford, who serves on the Finance Committee, informed the Board that he will not stand for reelection when his current term expires in May. At the Board’s request, he will become Director Emeritus.
“This is obviously a bittersweet moment for me and everyone who loves the Ford Motor Company,” said Chairman and CEO Bill Ford Jr. “My dad helped lead Ford into the modern era and make us who we are. The company is almost 102 years old, and he has served with distinction for more than half of our history.”
Ford Sr. was elected to the Board of Directors on June 4, 1948 and began his employment with the company after graduating from Yale University in 1949. He served in a variety of executive positions before being appointed vice president and general manager of the Continental Division in 1954. In 1956, he assumed responsibility for corporate product planning and design.
Throughout his career he oversaw the design and development of a number of important vehicles, including the Continental Mark II, considered by many to be the one of the finest cars the company ever produced.