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Wolfgang Reitzle Is Gone... (archive)
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Posted by CP on April 19, 2002 at 18:25:59:

...will the jag pumpkin now re-transform itself back into the Ford that it is???

DETROIT (AP) - Ford Motor Co. said Friday that it is shaking up management of its slumping Lincoln and Mercury luxury brands, breaking them off from its European name plates.

The world's No. 2 automaker also announced the departure of the head of its restructured Premier Automotive Group, now encompassing Aston Martin, Jaguar, Land Rover and Volvo.

Wolfgang Reitzle is leaving effective May 1 as head of the group to become chief executive of the German engineering company Linde AG. He will remain a consultant to Ford under a contract that bars him from joining another automaker, Ford chief executive Bill Ford said.

John Casesa, an analyst with Merrill Lynch, called Reitzle's departure a "disappointing development given the credibility he brought to the company's luxury effort."

Reitzle leaves behind a "team of talented managers," he said, but the PAG effort may be "slightly handicapped."

Through March 31, Mercury's U.S. sales have dropped 29.8 percent, and Lincoln sales are down 20.5 percent. Overall, Ford's sales fell 11.5 percent...


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