Ford Financial Guru to Retire

Neil Schloss, a long-time financial executive at Ford Motor Co., plans to retire at the end of the year.

For the last two years Schloss has served as chief financial officer of Ford’s mobility unit. The carmaker says it will name a successor for him in that position later.

During his 36-year career with Ford, Schloss has held a variety of positions in funding, risk management, international financing, banking and trading with the carmaker and its financing subsidiary. He was appointed treasurer and elected a corporate officer in 2007.

In 2006, Schloss helped Ford secure a $23 billion loan by mortgaging most of its assets to help the company survive the economic downturn. Schloss also is credited with devising the debt buyback scheme in 2009 that cleared $10.5 billion off Ford's books for $3.5 billion in cash and equity.