Ex-Volvo Cars COO to Head Ford South America Unit

Ford Motor Co. has appointed Steven Armstrong, COO of Getrag Ford Transmissions in Germany, to become president of its Brazil and Mercosur unit on June 1.

Armstrong will succeed Marcos de Oliveira, who plans to retire on June 30 after 28 years at Ford. The two executives will worth together during the transition.

Armstrong joined Ford in 1987 and has served as purchasing chief at the Ford-Mazda joint venture AutoAlliance International and as COO of Volvo Cars. He has worked at Getrag Ford, a joint venture between the automaker and Getrag International GmbH, since January 2011.

In his new job, Armstrong will be responsible for Ford's operations in Argentina, Brazil, Paraguay and Uruguay. The company's operating profit in the region shrank to $54 million in the first quarter of 2012, one-quarter of its level a year earlier. Revenue and sales each rose 4% to $2.4 billion and 118,000 units, respectively.