But thanking God for the Pope is better.
Thanking and praising God for the gifts and graces the Lord has bestowed upon the Holy Father and his papacy, as well as the good he accomplished in the Church, may be more fitting. Especially since he is only vacating the office, yet remains to serve the Lord.
That is how St. Paul did it: "Praised be the God and Father of our Lord Jesus Christ, who has bestowed on us in Christ every spiritual blessing in the heavens." And, "I give thanks to my God every time I think of you - which is constantly, in every prayer I utter - rejoicing, as I plead on your behalf..."
I also think it may be more efficacious.
"...each man will receive his praise from God."

