Ford CFO Bob Shanks plans to retire in 2019, sources familiar with the matter told CNBC on Thursday.
Shanks is expected to stay through the end of the year, according to sources familiar with the matter. His replacement will likely begin transitioning into the role in the second half of the year.
"As all boards of responsible companies do, our board of directors regularly reviews executive succession plans to ensure we have access to the best talent available and are prepared for orderly transitions to take place should the need arise," Ford said in a statement.
Shares of Ford were up less than 1 percent Thursday afternoon.