CLOSE

Jim Hackett describes his method of running Ford Motor Co. in an interview with the Detroit Free Press.
Ryan Garza, Detroit Free Press

Ford Motor Co. announced on Thursday that the carmaker had hired an Amazon financial veteran to lead the senior Whole Foods initiative to take on the role of chief financial officer on June 1 to take over. Successor to longtime Ford CFO Bob Shanks.

Tim Stone, 52, will join the company on April 15, just in time for the annual general meeting of shareholders on May 9. Shanks will remain with Ford A Lead on the shareholder action for the transition to December 2019, which delivered first-quarter sales in April and worked on specific projects.

Stone, who had worked at Amazon during his multi-billion dollar development from 1998 to 2018, left the company as Vice President of Finance. Previously, he was CFO of Amazon Web Services and Digital Content.

Tim Stone became new Ford CFO (Photo: Ford Motor Co.)

Stone left his youngest employer, the Santa Monica-based tech company Snap, Inc. that became known after 10 months for the Snapchat app. Reuters reported on January 15 that he had "gone to pursue other opportunities."

Lifting Problems: Passengers in newer trucks are exposed to a higher risk of injury and show the latest crash test

Shrinking Cities: Cities lose more inhabitants than they win with the population decline

Bloomberg reported a day later that Stone had hid behind the CEO and asked the board for a "significant" wage increase.

The company said at the time that Stone's resignation was not related to the bookkeeping, strategy, financial or other practices of the company, Bloomberg reported.

On January 21, the tech news site, businessinsider.com, reported "hostility" between Stone and his boss, Evan Spiegel, following Stone's unlawful act and withdrawal.

Stone earned $ 500,000 a year plus $ 20 million worth of initial lock-up.

The founder of Snap Inc. Evan Spiegel is a 28-year-old billionaire.

Thank you! You Are Almost Registered for

Look for an email to confirm your newsletter signup.

Ford declines to state the salary or compensation package that Stone will receive, said Ford spokeswoman Karen Hampton.

In March, Ford reported that Shanks had paid $ 8.4 million in 2018, compared to $ 6.7 million in 2017 and $ 6.3 million in 2016.

Stone is from " However, Ford and the company are bringing an appreciation to the auto industry to the job, Ford said in its announcement.

"Stone worked for his father, a general contractor, and a plumber.His father's vehicles were Ford trucks, and the family drove Ford Explorers and Ford Vans," Ford said in the press release.

In a prepared statement, Stone said it would be an honor for him to join the iconic business and use his experience in building companies of the future to help Ford build the next 100 years.

The Dearborn based company is 115 years old

"Thirty years ago, through my father's business, I saw first-hand how important Ford is to our economy and our community," said Stone. Bob Shanks, Executive Vice President and Chief Financial ” width=”180″ data-mycapture-src=”” data-mycapture-sm-src=””/>

Bob Shanks. Executive Vice President and Chief Financial Officer of Ford Motor Company (Photo: Ford Motor Company)