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Ford chairman pleased with plans to return to profit
DETROIT (Reuters) - Ford Motor Co's <F.N> Chairman Bill Ford on Sunday said the automaker's plan to return its North American operations to profitability in 2009 is "progressing very well."
The third-largest U.S. automaker, which lost $12.6 billion in 2006, is in the midst of a multiyear restructuring that aims to return its money-losing North American arm to profit in 2009.
Ford, who vacated the chief executive position in 2006 and hired Alan Mulally to replace him, said he is "very pleased" with the company's leadership and the progress made in 2007.
(Reporting by Poornima Gupta, writing by Jui Chakravorty, editing by Maureen Bavdek)
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