US based automaker Ford has said that their chief marketing officer Hans-Olov Olsson will retire effective January 1, 2007.

Olsson is also the nonexecutive chairman of the Volvo division of the company. This would just be the latest such case of a senior executive leaving the company as it aims to become profitable again at their US operations.

Ford has not announced a replacement of Olsson for the position of chief marketing officer. However, the company did say that Lewis Booth has been elected to replace Olsson as Volvo chairman.

Booth would also continue to be the executive vice president, Ford of Europe and Premier Automotive Group.