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More shakeups at Ford

Today there has been some more shakeups over at Ford (F). Robert Rubin, former U.S. Treasury Secretary under Bill Clinton, has announced that he is going to be leaving Ford's board after six years of service. Rubin, who also serves on the board for Citigroup (C) said that the move was a result of potential conflict of interest between his roles with Ford and Citigroup. He made it clear that no such conflicts currently existed, only a possibility of future conflicts as the motor giant looks for ways to return to profitability.

As Ford continues the hard road back into the green, Rubin will be sorely missed. According to a Ford exec, Rubin "brought strategic thinking to every situation and has been a wise and generous counselor to me and to the company. However, I understand and respect Bob's prudent decision to resign as we continue to explore future strategic options."

Ford has been aggressively attempting to turn the company around this year, announcing closures of up to 14 plants, and just last week announcing that it would be cutting automobile production by 21% during the fourth quarter of this year. Indeed it has been a tough year on the auto-maker. During the second quarter the company reported a $254 million loss and July numbers were way below what the company had been expecting.

So what is next for Ford?

Continue reading More shakeups at Ford

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