Ford Motor Credit Appoints New COO
Ford Motor Credit appointed Bernard Silverstone as the company’s new COO. Silverstone is a 32-year veteran of the company and currently serves as the captive’s president of marketing and sales.
DEARBORN, Mich. — Ford Motor Company and Ford Motor Credit Company announced that Bernard Silverstone has been appointed chief operating officer. The captive finance company also announced that its former president of marketing and sales was elected as Ford’s corporate officer, a position he will assume on Jan. 1, 2012.
In his new role, Silverstone will lead Ford Credit's operations in its four global regions: North America, Europe, Asia Pacific and Africa, and Latin America. He'll also lead marketing, sales and brand, business center operations, quality and process management, and insurance operations. He will continue to report to Mike Bannister, Ford executive vice president and Ford Credit chairman and CEO.
"Bernard's global operating experience and deep knowledge of the financing business will serve us well as Ford Credit grows its business to support Ford's growth plans," Bannister said. "He'll sharpen our focus on further aligning our operations globally, and provide strong leadership as we continue to profitably support Ford, its dealers and customers."
Silverstone’s current responsibilities include senior management responsibility for international operations, which covers all Ford Credit business units outside the United States and Canada. He was previously chairman of Ford Credit Europe.
Silverstone has been with Ford Credit for 32 years, joining Ford Credit Britain as a field representative. He has held a wide variety of staff, operations and leadership positions in the U.S., the UK and Australia markets, and had regional responsibilities for various European and Asia Pacific operations.
More Auto Finance
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →