Ford Motor Company has announced the election of a former majority leader of the US House of Representatives and chairman and CEO of a major US energy company to its board of directors.
Dick Gephardt, 68, served 14 terms in Congress and is currently president and CEO of the Gephardt Group, a multi-disciplined consulting firm. Tony Earley, 59, has run DTE Energy, a $8.5 billion business, since 1998.
Family member and executive chairman Bill Ford said he has "known and respected" Gephardt and Earley for a long time. "Ford is very fortunate to have these two seasoned leaders join our board at an important time in our company's history," he said, referring to the company's efforts to redress the worst financial figures in its history. In January, the Detroit-based business announced a net loss of $14.6 billion in 2008.
In particular, Bill Ford highlighted Gephardt's recent experience helping companies and labour organisations find better ways to compete in the global economy.
Of Earley, Bill Ford remarked that his experience in the utility industry would be particularly beneficial "at a time when automakers and utilities are working together to find ways to cooperate on the electrification of automobiles." Earley has also been earmarked to help Ford navigate the issues of energy independence, energy security and sustainability.