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. Last Updated: 07/27/2016

Rubin Gets Ford Post

DETROIT -- Former Treasury Secretary Robert Rubin will join Ford Motor Co.'s board of directors, effective Jan. 1.

Rubin's appointment brings the number of board members to 12. Board members are paid $40,000 a year, partly in Ford stock, plus some other fees for committee work and meetings, Ford spokesman Jim Cain said Thursday.

The Ford appointment is the latest move for Rubin since he resigned as treasury secretary in July.

Last month, Rubin was elected to the board of Citigroup Inc. as chairman of its executive committee. He will work with John Reed and Sanford Weill, the company's chairmen and co-chief executive officers, in a three-person office of the chairman.

Rubin, who took over at the Treasury Department in 1995, was regarded as one of its most successful secretaries, guiding the U.S. economy through an unprecedented period of growth.