Ford Pro Head Ted Cannis Announces Retirement

Ford Motor's highly profitable "Pro" commercial and fleet business is bidding farewell to its head, Ted Cannis, who will be retiring at the end of September after a 35-year tenure with the company. Cannis has played a pivotal role in the growth and success of Ford Pro.

A Legacy of Growth and Success for Ford Pro

Cannis's leadership has been instrumental in transforming Ford Pro into a significant revenue generator for the automotive giant. The unit, which focuses on commercial vehicles and fleet services, is expected to reach a remarkable $70 billion in revenue this year. This achievement places Ford Pro in the league of Fortune 100 companies.

• Ford Pro has been a consistent profit driver for Ford, generating about $18.7 billion in adjusted earnings and $184.5 billion in revenue since 2021.
• Ford Pro's success has helped offset losses from the company's electric vehicle business.
• Wall Street analysts have lauded Ford Pro, calling it a "hidden gem" and comparing it to the highly profitable Ferrari.

Ford Pro's Key Areas of Success

Ford Pro's success can be attributed to several key factors, including:

• A strong focus on meeting the needs of commercial customers.
• Innovative products and services tailored to fleet operations.
• Effective partnerships with dealers and upfitters to provide comprehensive solutions.

Leadership Transition at Ford Pro

Andrew Frick, president of Ford's traditional "Blue" operations, will assume the interim CEO role at Ford Pro until a permanent successor is appointed. The company has not yet announced a timeline for selecting a new leader.

Cannis's Legacy at Ford

Beyond his leadership at Ford Pro, Cannis also served as head of the Ford Customer Service Division, responsible for managing global parts, services, accessories, and vehicle customization for Ford dealers and customers worldwide.

In a statement, Cannis expressed his pride in the accomplishments of Ford Pro and FCSD, highlighting the company's scale, talent, and commitment to serving the needs of its customers.

Ford's Focus on Profitability in the Automotive Industry

Ford's emphasis on its commercial and fleet business, as evidenced by the success of Ford Pro, reflects a broader shift in the automotive industry towards profitability and market share in the commercial vehicle sector. The automotive industry is experiencing a surge in demand for vehicles that cater to businesses and fleets, driven by factors such as the rise of e-commerce and the need for efficient transportation solutions.

Cannis's retirement marks the end of an era for Ford Pro, but the company is well-positioned to continue its success in the automotive industry under new leadership. Ford's commitment to its commercial and fleet business, exemplified by the growth of Ford Pro, will likely continue to drive its profitability and market position in the years to come.