Ford China president to take over US auto giant's international business unit
President and CEO of Ford China assumed a new responsibility.
Ford Motor Company has announced that Vice President Wu Shengbo, also president and chief executive officer of Ford China, will additionally be in charge of Ford's International Marketing Group (IMG) business.
Jeff Marentic, head of Ford's IMG, will report to Wu.
Wu Shengbo, vice president of Ford Motor Company, and president and CEO of Ford China, is now also responsible for Ford's International Marketing Group (IMG) business.
Having joined Ford China as general manager and chief operation officer in October 2022, Wu became president and CEO in March 2023. He launched Ford China's business strategy, including the development of localized new-energy models to accelerate the electrification of the American automaker by cooperating with the Chinese industrial chain.
Ford China turned a profit in the third quarter of 2023 following the strategy launch, then achieved six consecutive quarters of profitability, which yielded its first full-year profit in seven years in 2024.
Jim Farley, president and CEO of Ford Motor Company, said: "To achieve greater success in international markets, including ASEAN, South Africa, Australia, and the Middle East, it is important to capitalize on Ford China's fast-growing export business to further enhance the competitiveness of the Ford brand in international markets."
New-energy products jointly developed by Ford China and Chinese industry chain partners are also expected to be unveiled soon, according to Ford officials.
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