The departure of a CEO is often met with trepidation in the business world, but for Ford (F), it brought a breath of fresh air. Ted Cannis, the chief of Ford’s lucrative Pro business, announced his retirement. This departure, though abrupt, did not send shockwaves through the investor community. On the contrary, Ford’s stock saw a healthy 1.5% climb during Thursday’s trading session.

Cannis spearheaded Ford’s Pro division, a segment dedicated to fleet operations and commercial ventures. This unit alone raked in a staggering $70 billion in revenue this year and contributed $184.5 billion in sales since 2021. Cannis’s departure now leaves Ford with big shoes to fill as they search for someone to replicate his success.

Stepping into Cannis’s shoes on an interim basis is Andrew Frick, the current head of Ford’s Blue operations. While the Blue team focuses on traditional retail aspects, Frick’s stint will be temporary. Reports indicate that Ford is already on the lookout for a permanent CEO replacement.

New Limited-Edition Pickup Celebrates Detroit Lions

Ford’s deep-rooted connection to Detroit was once again highlighted with the launch of a special edition F-150 Hybrid featuring the iconic NFL team, the Detroit Lions. Only 800 of these vehicles will ever exist, instantly turning them into coveted collectibles. Excitement is palpable in Detroit, with Lions fans daring to dream of a Super Bowl appearance. While that might seem far-fetched, the indomitable spirit of Detroit along with the unique hybrid truck could be the winning combination the team needs.

Ford: Buy, Hold, or Sell?

In the eyes of Wall Street analysts, Ford stock currently holds a Moderate Buy consensus rating, with five Buy, nine Hold, and one Sell ratings issued in the past quarter. Despite a 10.47% dip in its share price over the last year, the average price target of $13.67 per share suggests a considerable upside potential of 28.78% for investors.

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