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Ford hires former Amazon, Snapchat officer as new CFO

Ford hires former Amazon, Snapchat officer as new CFO

Ford Motor Co. said March 21 that its CFO will retire at the end of 2019 and be replaced by a former executive of both Inc. and Snap Inc.

Ford CFO Bob Shanks plans to retire at the end of the year and will be succeeded by Tim Stone, who worked at Amazon for 20 years and is the former CFO of Snapchat, the company said in a news release.

Stone will join the Michigan-based automaker April 15 as a company officer and become CFO on June 1.

Ford said Shanks will help Stone with the transition and "work on special projects through the end of the year."

Shanks has served as Ford's CFO since April 2012.

In January, Snapchat announced that Stone was leaving the multimedia messaging app company "to pursue other opportunities," according to a Securities and Exchange Commission filing.

At Amazon, Stone led financial support of several business initiatives, according to Stone's bio on Ford's website. Stone also oversaw Amazon's investment on physical stores, including the integration of Whole Foods.