Booth, in a statement today says,

"Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand"

Yes, because any time we see a Chinese restaurant offering Swedish meatballs, we think we're getting the heights of culinary delight.

Of course that can't be any worse than when we see Swedish meatballs at Denny's — which, come to think of it, we've been seeing since 1999's sale of Volvo Cars to Ford for $6.45 billion. [via AutoNews]

DON LECLAIR TO RETIRE FROM FORD MOTOR COMPANY; LEWIS BOOTH TRANSITIONS TO CHIEF FINANCIAL OFFICER

DEARBORN, Mich., Oct. 10 – Ford Motor Company today announced that Chief Financial Officer Don Leclair will retire Nov. 1 after an accomplished 32-year career. Lewis Booth – who played a leading role in the successful transformation of Ford of Europe and Mazda during the past decade – will become the company's Executive Vice President and Chief Financial Officer.

"Don's expertise and business acumen have been invaluable to Ford," Ford President and CEO Alan Mulally said. "Under his leadership, Ford has made significant progress in lowering costs, improving quality, improving efficiency, divesting non-core assets, improving our balance sheet and moving us to our One Ford."

Leclair and Booth will work together in the coming weeks to ensure a smooth transition.

"Lewis Booth is one of the strongest and most experienced leaders within Ford and the auto industry," Mulally said. "He was instrumental in the transformation of Mazda and Ford of Europe to profitability and growth. He has built a strong and successful team in Ford of Europe that is well positioned to continue the momentum. And he has put in place new leadership at Volvo to turn around its results and build the strength of this premium brand."

Booth comes to the CFO position with broad operational experience in Europe, Asia and North America as well as a deep background in finance and product development.

"Lewis' global experience, track record and many years of leadership in Ford's finance operations make him the ideal CFO," Mulally said. "He has proven success integrating Ford of Europe into a profitable, lean and highly efficient operation. We now are turning to Lewis to apply his extensive operational and financial experience to work even closer with our operating teams around the world as we accelerate the transition to our One Ford vision and, in the process, transforming Ford into a lean global enterprise and returning the company to sustainable profitability."

Ford also today announced that John Fleming is appointed Executive Vice President and Chairman and CEO, Ford of Europe, succeeding Lewis Booth. Fleming will assume responsibility for Ford of Europe, Volvo Car Corporation and Ford's Export Operations & Global Growth Initiatives. He will report directly to Mulally.

"John is a proven executive who has demonstrated strong results," Mulally said. "Under John's leadership, Ford of Europe has grown its sales and profitability. I have every confidence he will continue to lead Ford of Europe and now Volvo to even stronger success in the future."

Leclair, 56, was named Executive Vice President and CFO in August 2003. He joined Ford in 1976.

"I have appreciated my time at Ford and now look forward to spending more time with my family and pursuing other interests," Leclair said.

Booth, 59, was named to his present position in 2005 and also formerly was responsible for the Premier Automotive Group. He joined Ford of Europe in 1978 as a financial analyst. During his career, he has had a series of senior leadership positions around the world, including Ford of Europe, Ford Asia Pacific, Ford South Africa, Mazda and Ford's Finance, Truck Operations, Product Development, Manufacturing and Sales operations in Europe, Asia and North America.

Fleming, 57, was named Group Vice President and President and CEO, Ford of Europe, in 2005. He joined Ford's manufacturing operations in the UK in 1967. During his career, Fleming has served in a variety of leadership positions in Ford's global Manufacturing operations, including managing four automotive assembly plants and three stamping and component plants.

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Photo Credit: Getty Images

We're on the conference call right now where we're being told FoMoCo will be selling Aston Martin for just over $925 million to a consortium composed of ProDrive's David Richards, John Sinders, Investment Dar and Kuwaiti investment entity Adeem Investment Co. But even after the sale, which is expected to close in the second quarter, Lewis Booth, the President of Ford Europe and PAG claims there will be "a continued relationship between Ford and Aston Martin." Despite that remark by Booth, and other than the comment on the Aston release of "as part of the transaction, Ford will retain a 40 million ($77 million) investment in Aston Martin," there are no further details as of yet on what that means. Full press release below the jump. – Ray Wert

FORD ANNOUNCES AGREEMENT TO SELL ASTON MARTIN

DEARBORN, Mich., March, 12, 2007 - Ford Motor Company [NYSE: F] announced today it has entered into a definitive agreement to sell Aston Martin, its prestigious sports car business, to a consortium comprised of David Richards, John Sinders, Investment Dar and Adeem Investment Co. This transaction is the result of Ford's decision, as announced in August 2006, to explore strategic options for the Aston Martin business as the company restructures its core automotive operations and builds liquidity.

The sale is expected to close during the second quarter and is subject to customary closing conditions, including applicable regulatory approvals. The transaction values Aston Martin at 479 million ($925 million). As part of the transaction, Ford will retain a 40 million ($77 million) investment in Aston Martin. Other terms and conditions specific to the sale are not being disclosed at this time.

"The sale of Aston Martin supports the key objectives of the company, to restructure to operate profitably at lower volumes and changed model mix and to speed the development of new products," said Alan Mulally, Ford's President and chief executive officer. "From Aston Martin's point of view, the sale will provide access to additional capital, which will allow Aston Martin to continue the growth it has experienced under Ford's stewardship. Today's announcement is good for Ford Motor Company, good for Aston Martin and good for the UK. We wish Aston Martin every possible success for the future."

The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait.

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles in 200 markets across six continents. With more than 280,000 employees and more than 100 plants worldwide, the company's core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company.

Related:
Aston Martin Ownership Machinations: Private Equity Firm Waiting for Prodrive to Blink; What's in Aston's Cards? Let the Buyer Sort of Beware; Breaking! Germans Claim Louis Vuitton Will Buy Aston Martin, Will Prada Buy Jaguar? [internal]