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Filed under: Hirings/Firings , Volvo Ford might be looking to sell Volvo to a Chinese company according to a report by Dagens Industri and followed up by Automotive News . Sources are saying that Shanghai Automotive Industry Corp. may be one of the potential suitors, while a Russian investor has also expressed interest in Ford's Swedish arm. FoMoCo's CEO, Alan Mulally began a strategic review of the automaker last year and the possible sale of Volvo was reported to be in the cards. However, Ford denied such a plan at the time and when AN contacted a Ford spokesperson for comment about the report today they said, "We have been consistently saying since the end of last year that Volvo is not for sale. We are focused on improving Volvo's business results." Regardless, news of the possible sale of Volvo comes on the same day Ford announced that 2,000 workers will be laid off in an effort to cut costs due to an overall weak market and rising material costs. Volvo is hoping...
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Filed under: Hirings/Firings , Ferrari Montezemolo, Felisa and Todt at Geneva 08. Click to view more. Ferrari today concluded its assembly of shareholders at which Jean Todt stepped down as chief executive officer. Todt was originally hired to head the F1 racing team in 1993, was promoted to general manager of the company in 2003 and CEO in 2006. After relinquishing the role of general manager to Amedeo Felisa in 2006, Todt handed over control of the Scuderia to Stefano Domenicali at the start of this year. Felisa will now also succeed Todt as CEO. Meanwhile Todt will stay on in certain limited capacities for Ferrari, including a seat on the board, the presidency of both Ferrari Asia Pacific and Ferrari West Europe as well as representation of the Scuderia on the FIA World Council. Todt announced that he had stayed on as chief executive only until company president Luca di Montezemolo completed his term as head of industrial group Confindustria, and that he was now moving on to dedicate...
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Filed under: Etc. , Hirings/Firings var digg_url = 'http://digg.com/business_finance/GM_s_Rick_Wagoner_tops_Motor_Trend_s_power_list'; Rick Wagoner must be doing something right as the Chairman and CEO of General Motors, as the auto-pundits at Motor Trend have named him the No. 1 auto industry power broker in their 2008 Power List of the top 50 players. While we haven't received our February 2008 issue yet and don't have all 50 names to share with you, MT was nice enough to reveal the top 10 and a few notables (see below). GM and Volkswagen are most well-represented automakers in the top 10 . The General landed Bob Lutz, Ed Welburn and its new CFO Fritz Henderson on the list in addition to Wagoner, while VW had three in the top 10, including Supervisory Board Chief Ferdinand Piëch, Chairman Martin Winterkorn and Group Design Chief Walter Da Silva. Curiously, no Autoblog staff members made the top 10. Personalities of note on the 2008 Power List include: #14 Alan Mullaly...
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Filed under: Hirings/Firings , Chrysler For as long as this young blog can remember, Jason Vines has been the official voice of Chrysler. Though he began at Chrysler back in 1983, Vines' professional career has seen him receive paychecks at both Nissan and Ford before returning to Chrysler in 2003 to become Vice President-Communications. Little did Vines know that he'd be on the front lines when this whole blog phenomenon hit the big time and the face of automotive journalism began to change. He's had to endure embargo breaks, late night confirmation calls and the unique personalities that exist within our cottage Web 2.0 industry for the past four years. At the end of December, however, Vines will have to deal with it no more as Chrysler has just announced his resignation, effective immediately. It appears as if his parting is on friendly terms, as Vines will stay on through the end of the month to help his replacement, Nancy Rae, formerly Senior Vice President-Human Resources...
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Filed under: Etc. , Green , Hirings/Firings Late Friday evening, Tesla Motors issued a brief statement that company founder Martin Eberhard was transitioning from his management role as President to the company's advisory board. This announcement came barely a day after the announcement that Ze'ev Drori had been tapped to be the new CEO, taking the reins from interim boss Michael Marks. Drori is now also taking up Eberhard's title as President. After the announcement it became clear that Eberhard did not relinquish his duties voluntarily. He is no longer even on the board of directors and the advisory board gig is at best ceremonial. The company isn't saying much, but in a posting on the Tesla Motors Club message board, Eberhard made it clear that it wasn't his choice to leave the company. A number of executives have apparently left the company in recent months as engineers have struggled to overcome transmission problems that have delayed the production launch of the...
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Filed under: Etc. , Euro , Hirings/Firings , Volkswagen The workforce exodus in Southeast Michigan is slated to continue, as Volkswagen's North American headquarters is officially heading over to Washington D.C. VW currently employs 1,500 workers in Auburn...
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