Laurel Wamsley

Updated 10:30 a.m. ET

Ford Motor Co.'s North American President Raj Nair has been forced out over allegations of "inappropriate behavior." The company didn't offer many details.

In a statement, Ford said that Nair, 53, is leaving the company effective immediately.

The U.S. economy grew at just a 0.7 percent annual rate in the first quarter of this year, according to the latest report on the gross domestic product from the Commerce Department. That's below market expectations and indicates the economy grew at the slowest pace in three years.

Weak auto sales and lower home-heating bills dragged down consumer spending, offsetting a pickup in investment led by housing and oil drilling. Employment costs rose 0.8 percent in the first quarter.