Welcome to Extreme Investor Network, where we bring you the latest insights and developments in the world of business news. Today, we’re diving into the latest news from Ford Motor Company’s commercial and fleet business, Ford Pro.
In a recent announcement, Ford revealed that the CEO of Ford Pro, Ted Cannis, will be retiring at the end of this month. Cannis, who has been with the company for 35 years, has played a key role in building Ford Pro into a thriving business that is on track to generate $70 billion in revenue this year. Under his leadership, Ford Pro has been a significant profit driver for the automaker, with impressive earnings and revenue figures since 2021.
Following Cannis’ retirement, Andrew Frick, president of Ford’s traditional “Blue” operations, will step in as the interim CEO of Ford Pro until a permanent leader is appointed. This transition comes at a crucial time for Ford Pro, as the business continues to grow and innovate to meet the needs of its customers.
Not only has Ford Pro been a financial success for Ford, but it has also garnered praise from Wall Street analysts, who have likened it to a “hidden gem” and even compared it to the highly profitable Italian sports car manufacturer, Ferrari. This recognition speaks to the strength and potential of Ford Pro in the commercial and fleet market.
In addition to leading Ford Pro, Ted Cannis also oversaw the Ford Customer Service Division, which plays a vital role in providing parts, services, and vehicle customization for Ford dealers and customers worldwide. With his retirement, Daniel Justo, the current CFO of Ford Blue, will take on the responsibilities of overseeing these operations.
As Cannis looks forward to watching Ford Pro and the Ford Customer Service Division continue to innovate and grow, the future of these businesses remains bright. Stay tuned to Extreme Investor Network for more updates on Ford Pro and other key players in the business world.