Ford builds alliance to prevent defections

Manufacturing News, Source : TheManufacturer.com
Published : 22 Jul 2002 19:24

The Ford Motor Company has asked 52 of its top corporate officers to sign a pact that prevents them from defecting to another major automaker during the next two years.

Signing the agreement is voluntary, and those who do receive potentially lucrative stock options as compensation.

Two top-ranking marketing officers left Ford last year and joined Daimler-Chrysler, and other marketing officers soon followed, a Ford spokesperson said. As a result, Ford officials sought ways to prevent further defections. The new plan will safeguard against the loss of human resources and proprietary information.

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