DEARBORN, Mich. — Ford Motor Company President and Chief Executive Officer Alan Mulally announced changes to his senior leadership team with the elevation of two key executives and the retirement of another.

John Parker has been elected an executive vice president of Ford Motor Company – Asia Pacific and Africa, one of the company’s three core regional business units. Parker has been leading the region as a group vice president, based in Bangkok, Thailand. He will continue to have responsibility for all of Ford’s operations and partnerships within Asia Pacific and Africa, including Mazda. He continues to report to Mulally.

“John is a tremendous leader delivering solid results in the world’s fastest growing and most dynamic region,” Mulally said. “With John leading the way, Ford is poised for fast growth in Asia, as we work together to create the products that customers really want and value.”

Mike Bannister, chairman and chief executive officer of Ford Motor Credit Company, also has been elected an executive vice president of Ford Motor Company. Bannister will continue to be responsible for all operations of Ford Motor Credit worldwide, reporting to Don Leclair, executive vice president and chief financial officer.

“Mike is an exceptional leader with tremendous business and financial acumen. He is steering us to ever higher levels of excellence at Ford Motor Credit, which remains strategically core to our company’s future,” Mulally said. “Under Mike’s continued leadership, Ford Motor Credit is performing solidly through reduced costs, improved effectiveness and streamlined global operations.”

Francisco Codina, group vice president, North American Marketing Sales and Service, has elected to retire after 30 years with Ford Motor Company. His retirement is effective Nov. 1. Ford is beginning an immediate search for his replacement.

“Cisco’s passion and dedication to Ford will be missed,” said Mark Fields, executive vice president and president – The Americas. “Under Cisco’s leadership, we began to stabilize our retail market share, energize our dealers, improve the resale value of our vehicles and speak with a more confident tone in our marketing.”

Codina joined Ford in 1977 and has served as vice president – Ford Customer Service Division, as well as general marketing manager for Ford Division, president of Ford of Argentina and a variety of sales and marketing assignments throughout the U.S. He was appointed group vice president, Marketing, Sales and Service in January 2006.