Cerence AI appoints ex-Ford exec to board

BURLINGTON, Mass. - Cerence Inc. (NASDAQ: CRNC), known for developing AI-driven user experiences for the automotive sector, announced the appointment of Marion Harris, a veteran Ford Motor Company executive, to its board of directors as an independent, non-executive member effective April 1, 2025. The appointment comes as the company, currently valued at $422 million, shows strong momentum with a 300% price return over the past six months, according to InvestingPro data.

Marion Harris brings over 25 years of experience from Ford, where his roles spanned automotive and financial services, including his most recent position as Chairman and CEO of Ford Motor Credit Company. Under his leadership, the company underwent a digital transformation that achieved the highest consumer satisfaction in the industry. Harris’s tenure at Ford also included serving as Vice President of Ford Mobility, overseeing the automaker’s digital and mobility startups. His appointment is particularly significant as Cerence maintains a robust gross profit margin of 68% despite recent market challenges, as revealed by InvestingPro analysis.

Harris’s expertise covers a broad range of areas, including financial services, capital markets, risk management, and technology transformation, which aligns with Cerence’s focus on advancing AI-powered in-vehicle experiences. Kristi Ann Matus, Chairperson of the Board of Directors at Cerence AI, expressed enthusiasm for Harris’s appointment, citing his extensive leadership experience and automotive industry insight. While the company currently shows negative earnings, six analysts have revised their earnings upward for the upcoming period, with expectations of profitability this year.

The CEO of Cerence AI, Brian Krzanich, also welcomed Harris to the board, anticipating valuable contributions to the company’s innovation and expansion in the mobility market. Harris currently serves on advisory boards for Harbinger Motors and Mobility Impact Partners and holds advanced degrees in mathematics from Mississippi State University.

Harris’s addition to the board is expected to provide strategic guidance as Cerence AI continues to shape the future of car experiences with its conversational AI technology. The company, which has its technology in over 500 million cars, partners with automakers and tech firms to enhance the safety and enjoyment of driving.

This appointment is based on a press release statement from Cerence Operating Company.

In other recent news, Cerence Inc. disclosed the outcomes of its 2025 Annual Meeting of Shareholders, where all board nominees were elected with a majority vote, and the executive compensation strategy was approved. However, a proposal to amend the company’s certificate of incorporation to limit officer liability did not pass. Additionally, Raymond James maintained a Market Perform rating on Cerence, citing strong financial performance and effective debt management, despite concerns over market share in China. Meanwhile, Needham upgraded Cerence to a Buy rating, highlighting the potential of next-generation voice assistants and improved cash flow projections. The company’s recent partnership with NVIDIA aims to enhance its language models for in-vehicle use, promising better performance and user experience. Cerence has also entered a multi-year agreement with Jaguar Land Rover to develop advanced AI technologies for in-car experiences. These partnerships reflect Cerence’s ongoing commitment to innovation in the automotive sector.

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