Ford Pro CEO Ted Cannis speaks during an interview on Thursday, July 28, 2022, in New York.
Victor J. Blue | Bloomberg | Getty Images
Detroit — Director Ford Motor CompanyThe company said on Thursday that its highly profitable “Pro” commercial and fleet businesses will exit at the end of this month.
this automaker says Ford Pro CEO Ted Cannis, a 35-year veteran of the company, will be temporarily replaced by Andrew Frick, president of Ford’s traditional “blue” operations until the company announces a new leader.
“Ted’s energy and passion for customers have been instrumental in building Ford Pro into a company with $70 billion in revenue this year and a wealth of assets,” Ford CEO Jim Farley said in a statement. Top 100 companies.
Ford Pro has always been Profit drivers for automakers. The company has earned about $18.7 billion in adjusted earnings and $184.5 billion in revenue since 2021, helping offset losses in its electric vehicle business.
Such performance has Wall Street praising the business, with analysts calling it a “hidden gem” and Ford’s “ferrari”, referring to the lucrative Italian sports car maker.
Cannis also leads Ford Customer Service, which handles global parts, service, accessories and vehicle customization for Ford dealers and customers around the world.
Daniel Justo, currently Ford Blue’s chief financial officer, will begin overseeing the company’s operations upon Canis’ retirement.
“Leading Ford Pro and FCSD has been the most exciting and rewarding chapter of my career,” Cannis said. in a version. “Ford Pro is a profitable and growing business with unparalleled scale, talent and the best dealers and tuners – all to serve the people and businesses that keep our economy and communities vibrant. I can’t wait Want to see Ford Pro and FCSD continue to innovate and grow.
