KR Kent joins from the company’s credit division as Ford seeks to enhance its relationship with investors
Ford has named KR Kent, the CFO of its financial services business, as the car maker’s new executive director of investor relations.
Kent will take up the newly created role on January 1, 2011, with a brief of strengthening the company’s IR function and deepening its engagement with the investment community on both the equity and fixed-income sides. He will report to Ford’s treasurer Neil Schloss.
The appointment of Kent will help Ford with its target of achieving an investment-grade credit rating, given his in-depth knowledge of the company’s credit division.
‘KR brings to this new position a deep knowledge of Ford, Ford Credit, the automotive and credit industries, and the global investment community,’ comments Ford CFO Lewis Booth in a statement.
‘As we continue to make progress on our One Ford plan and move toward an investment-grade credit rating, we are committed to providing the investment community with authoritative and highly credible insight into our automotive business and Ford Credit.’
Since joining Ford in 1987, Kent has worked in a number of different finance positions across the company. He holds a degree in business analysis from Indiana University, as well as a master’s in finance from Ohio State University.
On Tuesday, Reuters reported Ford’s executive chairman Bill Ford as saying that the company is moving more quickly than anticipated toward its goal of returning to a solid credit rating.
The car company has achieved profits in six consecutive quarters – enabling it to cut borrowings – but remains saddled with debt it took on to avoid going bankrupt in 2006.
