Cooper Tire & Rubber Co. (NYSE: CTB) said Thursday it named Ford Motor Co. (NYSE: F) executive Brad Hughes as vice president and chief financial officer, according to Associated Press.
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Cooper succeeds Phil Weaver, who will retire at the end of the year after 19 years at Cooper Tire.
Before his appointment at Cooper Tire, Hughes had worked as global product development controller at Ford since 2008. Previously, he worked as finance director for Ford's South America Operations in Brazil and held a number of other positions at Ford around the world.
Shares of Cooper Tire rose 43 cents, or 2.7 percent, to $16.16 in morning trading.
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