TWO of Ford’s non-executive directors have resigned, reviving questions about the carmaker’s stability.

Sir John Bond, the chairman of Vodafone, and Jorma Ollila, the chairman of Nokia, will leave because each “had significant responsibilities within their own companies, and each has recently added new responsibilities in advising governmental entities during these difficult economic times”, Ford said on Friday.

The company said that it had no immediate plans to replace them.

The pair’s departure will fuel uncertainty about the future of the big-three Detroit carmakers - Ford, GM and Chrysler - which have been mauled by a combination of falling sales, high debts and hefty pension and healthcare payments.

GM and Chrysler are in advanced talks about a tie-up. It is understood the two sides are discussing options ranging from the sharing of engineering resources and models up to a full merger.

Chrysler’s majority shareholder is the private-equity group Cerberus, which is also the majority owner of GMAC, General Motors’ financial-services arm.

GM is set to report its third-quarter trading on Wednesday of next week, with analysts expecting another sharp drop in sales.

Motor-industry sources said it was possible that the Chrysler deal could be hammered out by the time the trading update is announced.

Bond and Ollila’s resignation comes hard on the heels of a reshuffle of Ford’s top executive team. Lewis Booth, a veteran of Ford’s European operations, has been made chief financial officer, replacing Don Leclair.

Ford’s sales are down nearly one-fifth this year. Earlier in the year it sold Jaguar and Land Rover to India’s Tata Motors, and a few months earlier sold Aston Martin to a consortium led by Gulf investors.

Bankers say it may now bring forward plans for a sale of Volvo, the Swedish marque.

Recent US press reports have also suggested the group may try to sell its 23% stake in Mazda, the Japanese carmaker. GM is also understood to have made a tentative approach to Ford about a merger, but the plan was not pursued.

Times Recommends

• Minister in talks with Saudis to protect creditors
• Premier Inn hits back in £29-a-room row
• Bankers hit back at 'populist' bonus supertax