Ford Motor Co. lost more than $5.45 billion in 2001, its first time since 1992. The automaker also ousted its CEO late last year. And finally, its erstwhile solid and dynamic image has been tarnished by the controversy over the stabil-

ity of its sport-utility vehicle, the Explorer, and the ongoing recall of the Firestone tires with which Ford used to equip the SUV.

But it's not Freeman Wood's fault. Sure, he has been the chief risk officer (CRO) and the director of the global risk management team at the Dearborn, Mich.-based auto giant for the past two years, heading up its enterprise risk management strategy. But enterprise risk management (ERM) is a delicate souffl?–you can't take it out of the oven before it's done, and you can't speak too loudly about it until then, either.

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