General Motors may have appointed the first female automotive CEO, but Ford has been busy diversifying its executive leadership circle, too.
According to Ford Authority, the blue oval’s latest move to fill retiring Ford Credit CEO Bernard Silverstone’s vacancy with Joy Falotico makes for seven women executives in the 44-member team. Falotico was previously the credit unit’s COO.
GM, at current, has five women executives on its 21-member team and remains far ahead of Ford Motor Company when comparing board member seats; just two of Ford’s 14 board members are women. In comparison, six of GM’s 12 board seats are filled by women.
“Joy’s promotion into this position is an outstanding step, and it’s definitely a signal to employees, shareholders and anybody watching of Ford’s willingness to develop and promote top, top women,” said Anne Doyle, formerly a Ford Communications executive, and author of Powering Up! How America’s Women Achievers Become Leaders. “But in the context of that, I would say Ford has a long way to go.”