Ford Insider Named Chief Financial Officer

Ford Motor Co. promoted Controller Don Leclair to chief financial officer -- its fifth in four years -- allowing an insider to oversee cost-cutting launched by former CFO Allan Gilmour.

Gilmour, who is also vice chairman, will take a role in plotting long-term strategy and will continue to guide the company’s finances and its Ford Credit lending arm. He also will oversee corporate affairs and human resources.

Ford’s shares fell 1 cent to $11.13 on the New York Stock Exchange.