Ford's brain-drain

Locals are still recovering from the shock news that Ford Australia has lost its second President within seven months. Now we hear that Ford in Canada has lost its President also, a bloke by the name of Barry Engle.

There's an element of synchronicity in Engle's announcement, following Osborne's (more here) by a matter of days and Engle being the incumbent in the role previously held by Osborne, prior to his move to Australia.

But it's not so very startling, in reality. Ford globally is in difficult financial circumstances, so opportunities for bonuses and remuneration generally are not what they were. Even if you're not due a performance review and you're only seven months into the job, you'd be pondering what the future holds at Ford.

If you're smart enough to sell yourself and your skillset to -- in this case -- New Holland Agricultural Equipment SpA as the new President and CEO of that company, why wouldn't you? Engle's new 'home' is owned by Fiat, which suggests that job security there is likely backed by a lot of lire.

The Canadian arm has already announced Engle's replacement will be 47-year old David Mondragon (pictured).

As yet, there's still no news on Osborne's "dream job" and that will have to wait until everything is approved by the SEC in the US, a body much like Australia's ASIC.

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