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Armstrong's appointment is part of a broader management reshuffle at Ford (Photo: Ford Motor)

Steven Armstrong was appointed COO of Ford of Europe, replacing Barb Samardzich, who is retiring from the carmaker. The company also announced that Lyle Watters is succeeding Armstrong as president of Ford's South American operations.

Armstrong, 52, has served as head of South America since january 2014. Earlier he served in several senior executive roles at Ford of Europe and at Volvo when it was still owned by Ford.

Watters, 51, has  most recently been CFO of Ford of Europe.

Ford also announced that its treasurer, Neil Schloss, will - in addition to his current duties - become CFO of Ford Smart Mobility LLC, a subsidiary formed to grow the carmaker's new-mobility initiatives.

The unit plays a key role in Ford's plans to grow its business in new areas such as connectivity, mobility, autonomous vehicles and data and analytics.