Automotive News reports that Greg Smith, Ford Motor's vice chairman, will retire March 1 at age 54. Ford will not replace Smith, who becomes the fifth top exec to lose his job in the current restructuring.

Smith was president of Ford's Americas unit until September 2005, when he was replaced by Mark Fields.

Automotive News speculates that one or two more execs will get the axe in the next month or so, if Bill Ford remains committed to a 12 percent reduction in corporate officers by the end of March.

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