Wednesday 13th October 1915
James Couzens resigned as Vice President and Treasurer of the Ford Motor Company, but retained his 11% ownership and seat on the Board of Directors. In 1902, Henry Fordwas organising the Ford Motor Company; Alexander Malcomson was a major stakeholder in the company. The two were seeking additional stockholders; Couzens borrowed heavily and invested $2500 in the new firm. Ford Motor Company was founded in 1903 with John S. Gray as president, Ford as vice-president, Malcomson as treasurer, and Couzens as secretary. Couzens took over the business management of the new firm for a salary of $2400. In 1906, Gray died and Malcomson was eased out of the business, making Couzens vice president and general manager of the company. The company made both Ford and Couzens wealthy, due in no small part to Couzens’s business acumen. However, the two men gradually grew apart, and Couzens resigned his position as general manager, although he retained a seat on the board. In 1919, Ford purchased Couzens’s shares in the company for $30,000,000.