Ford Names Former Goldman Executive Weinberg to Its Board
New director’s grandfather helped take automaker public
Weinberg retired from firm last year, had been Ford adviser
Ford Motor Co. will add John S. Weinberg, a former Goldman Sachs Group Inc. vice chairman whose grandfather helped take the automaker public in 1956, to its board.
Weinberg, 59, will join Ford’s board on Oct. 1, the company said in a statement Thursday. He retired from Goldman last year after more than three decades at the firm. While at Goldman, Weinberg advised Ford for more than 15 years, as well as working with General Electric Co. and Boeing Co. and leading the firm’s team on initial public offerings for Visa Inc. and Under Armour Inc., the automaker said.
“John is a trusted advisor with a deep understanding of Ford, our history and the future needs of our business,” Bill Ford, executive chairman and great-grandson of founder Henry Ford, said in a statement. Weinberg brings expertise in finance, banking and the capital markets, he said.
Weinberg’s grandfather, Sidney Weinberg, ran Goldman from the Great Depression until 1969 and worked with Henry Ford II on the automaker’s initial public offering 60 years ago. Weinberg’s father, John L. Weinberg, was senior partner and chairman of the firm from 1976 to 1990.
As Weinberg was leaving Goldman last year, Ford Chief Executive Officer Mark Fields said: “We appreciate all of the support he has given us, wish him all the best and look forward to the opportunity to work with him again in the future.”