Ford Names Falotico to Head Finance Unit

Ford Motor Co. has named Joy Falotico to become chair and CEO of Ford Motor Credit Co., effective Oct. 1.

Falotico, 49, succeeds Bernard Silverstone, 60, who has elected to retire after a 37-year career at Ford. He has served as chair and CEO of the credit since January 2013.

Prior to her new appointment, Falotico was chief operating officer at Ford Credit, where she led the unit’s global operations. She joined the unit 27 years ago and is past executive vice president of marketing and sales. Falotico also formerly headed sales and marketing operations in North America and customer and dealer services in Europe.