Ford Pro CEO Ted Cannis to Retire, Leaving Behind Highly Profitable Commercial and Fleet Business

Ford Motor’s commercial and fleet business, Ford Pro, is set to undergo a leadership change as its CEO, Ted Cannis, prepares to retire at the end of the month. Cannis, who has been with the company for 35 years, has played a crucial role in the success of Ford Pro, which is expected to generate $70 billion in revenue this year. His successor on an interim basis will be Andrew Frick, the president of Ford’s traditional “Blue” operations, until a permanent replacement is announced.

Under Cannis’ leadership, Ford Pro has been a significant profit driver for the automaker. Since 2021, the division has reported adjusted earnings of $18.7 billion and generated $184.5 billion in revenue. These impressive results have helped offset the losses from Ford’s electric vehicle business. Wall Street has applauded Ford Pro’s performance, with analysts referring to it as a “hidden gem” and Ford’s equivalent of Ferrari, the highly profitable Italian sports car manufacturer.

Cannis has also overseen the Ford Customer Service Division, which handles global parts, services, accessories, and vehicle customization for Ford dealers and customers worldwide. Upon his retirement, Daniel Justo, the current CFO of Ford Blue, will take over the operations.

Reflecting on his time at Ford Pro and FCSD, Cannis expressed his pride in leading a profitably growing business with exceptional scale, talent, and industry partners. He expressed confidence in the continued innovation and growth of Ford Pro and FCSD, which play vital roles in serving the needs of individuals and businesses that drive our economy and communities.

The retirement of Ted Cannis marks a significant transition for Ford Pro and raises questions about the future direction of the division. However, with the solid foundation laid by Cannis and the proven success of Ford Pro in the commercial and fleet market, the division is well-positioned to continue its growth trajectory. The challenge for the new leadership will be to build upon the momentum and capitalize on the opportunities in the evolving automotive industry.

As the auto industry shifts towards electric vehicles and sustainable transportation solutions, Ford Pro’s expertise in commercial and fleet operations will play a critical role in the company’s overall strategy. Ford CEO Jim Farley has emphasized the importance of the “Pro” business, stating that it is the future of the auto industry. By focusing on the specific needs of commercial customers and offering tailored solutions, Ford Pro can position itself as a leader in this rapidly evolving market.

In conclusion, Ted Cannis’s retirement marks the end of an era for Ford Pro. Under his leadership, the division has become a significant profit generator for Ford, with impressive revenue and earnings figures. As the automotive industry undergoes a transformation towards electric and sustainable vehicles, Ford Pro’s expertise in the commercial and fleet market will be crucial. The new leadership will need to build upon the foundation laid by Cannis and continue to innovate and adapt to the changing landscape. With the right strategy and execution, Ford Pro has the potential to maintain its status as a “hidden gem” and drive the future success of Ford Motor Company.