Ford Canada President, CEO Quits After 8 Months On The Job

August 21, 2008 5:33 a.m. EST

Oakville, Ontario (AHN) - Ford Canada announced Barry Engle, its president and CEO has resigned and will leave the company in September. The 44-year old executive leaves his job after only eight months.

Engle will move to New Holland Agricultural Equipment, a subsidiary of farm equipment maker CNH Global NV.

According to Ford Canada spokeswoman Lauren More, Engle's replacement will soon be named.

Engle said, "Leading Ford has been one of the best experiences of my career and it's very difficult to leave a team that is so committed to its customers and to building future success."

Ford Motor is in the middle a restructuring and cost cutting effort, which follows a decline in the sale of its large vehicles, caused by the soaring price of gasoline as motorists shifted to smaller and more fuel-efficient Japanese-made vehicles.