Key Ford exec quits company

One of the key executives responsible for overseeing Ford Motor Co.'s global cost-cutting efforts has quit to become chief financial officer of an Ohio paper company.

David Prystash, a 24-year Ford veteran, submitted his resignation last week. He was the controller of Ford's global product development operations.

Prystash will be taking a job as CFO and senior vice president of NewPage Corp. of Miamisburg.

"He had an opportunity outside the company," said Ford spokeswoman Marcey Evans. "He's elected to leave the company."

His last day at Ford will be today, the company said.

Ford has been struggling to rein in costs as part of a massive restructuring effort aimed at returning the Dearborn automaker to profitability.

The automaker has lost $23 billion since the end of 2005, including $8.7 billion in the second quarter this year. Detroit News