Ford Pro CEO Resigns from Position
Ford Pro, the commercial vehicle arm of Ford Motor Co., is on track to reach an impressive $70 billion in revenue this year. This projected growth makes Ford Pro a contender to become a Fortune 100-size company.
The fast-growing unit, founded in 2021, has been led by Ted Cannis since its inception. However, Cannis announced his retirement, effective at the end of September. In a press release, Ford also announced the appointments of Andrew Frick and Daniel Justo to lead Ford Pro on an interim and permanent basis, respectively.
Frick, the current president of Ford Blue, will take over as the interim CEO of Ford Pro. Justo, who is currently the CFO of Ford Blue, has been named the VP of Ford Customer Service Division (FCSD) and a company officer, effective from October 1. In his new role, Justo will lead FCSD on a global scale and report to Frick.
Cannis began his career with Ford Motor Co. in 1989 in finance and served in various roles within the company. Notably, he led the global director of Ford's battery electric vehicles segment from 2017 to 2020 and was instrumental in the development of the Mustang Mach-E at Team Edison.
In his retirement announcement, Cannis expressed his pride in building Ford Pro into a 'true, technology-driven growth business.' Jim Farley, Ford president and CEO, praised Cannis' role in building Ford Pro and wished him well in his retirement.
Ford Pro focuses on lowering the total cost of ownership and increasing uptime for customers. With the widest and most flexible commercial vehicle lineup and an industry-leading service network, Ford Pro is well-positioned to continue its growth.
In the second quarter of this year, Ford Pro generated $2.6 billion in earnings. The company also reported having 600,000 paid subscribers during the quarter. FCSD, another growth opportunity for the company, has an estimated $100 billion-plus profit pool for maintenance, repair, parts, and other services outside of the dealer network.
Ford has not yet announced a new leader for Ford Pro. With the interim leadership in place, the company is poised to continue its growth trajectory and maintain its focus on delivering value to customers.
