Ford Taps Tech Industry to Fill Executive Role
Ford Motor Co.’s Chief Financial Officer Bob Shanks plans to retire from the company at the end of 2019. He will be succeeded by Tim Stone, a finance executive who served 20 years at Amazon Inc., and as CFO of Snap Inc. Stone, 52, will join Ford on April 15 as a company officer and assume the role of CFO on June 1. He will report to Ford President and CEO Jim Hackett.
Shanks, 66, will work closely with Stone on the CFO transition and then work on special projects through the end of the year.
“We’re so excited to have Tim join Ford at this incredible time for our company as we strive to become the world’s most trusted company, designing smart vehicles for a smart world,” Hackett said. “He was a key player in the incredible success at Amazon and he understands the principles of fitness and growth as complementary virtues for Ford’s future.”
Stone as CFO will have overall responsibility for the company’s financial operations, including the Controller’s office, treasury and investor relations.
Stone joined Ford after decades of experience in the tech industry. During his 20 years at Amazon, he led financial support of several of the company’s most significant business initiatives and oversaw operations for others .During this time the company scaled from $150 million in revenue with fewer than 1,000 employees to $200 billion in revenue with 575,000 employees.
He joined Amazon in 1998 as the company’s corporate controller and head of tax. Through the years, he served in a variety of financial leadership roles, helping to oversee corporate business development, leading investor relations, overseeing financial planning and analysis, and heading up European financial operations.
He also served as CFO for marquee operations during key periods of growth, including Amazon devices and digital content from 2010 to 2011 and Amazon Web Services from 2012 to 2015.
After his service at Amazon, Stone became chief financial officer for Snap Inc. In that role, he oversaw all finance operations for the public company as well as human resources, real estate, facilities, and security.
