From CNBC: 2024-09-12 12:16:58

Ford Pro CEO Ted Cannis, a 35-year veteran of Ford Motor, will retire at the end of the month. He leaves behind a profitable commercial and fleet business tracking towards $70 billion in revenue this year. Analysts have hailed it as a “hidden gem” for the automaker, offsetting losses from its EV business.

Cannis will be succeeded by Andrew Frick on an interim basis. Ford Pro has brought in about $18.7 billion in earnings and $184.5 billion in revenue since 2021. The business has been a successful venture for Ford, receiving praise from Wall Street and earning comparisons to Ferrari for its profitability.

Cannis also oversaw Ford’s Customer Service Division, which provides parts, services, accessories, and vehicle customization globally. His retirement will see Daniel Justo taking the reins of Ford Blue operations. Cannis expressed pride in leading Ford Pro and FCSD, expressing confidence in their continued growth and innovation.



Read more at CNBC: CEO of Ford’s highly profitable Pro business to retire