FedEx Corp. announced that John Dietrich will step down as chief financial officer on June 1 upon completion of the spinoff of FedEx Freight into a new publicly traded company.
Dietrich will remain with the company until July 31, and Claude Russ, FedEx’s enterprise vice president of finance, will serve as interim CFO until a successor is found.
Earlier this month, FedEx Freight executives shared their expectations with investors for the stand-alone company. North America’s largest LTL carrier will trade under the symbol FDXF on the New York Stock Exchange.
“As the largest pure-play LTL carrier in North America, we are combining our market-leading network scale, published transit times, and reliability with a differentiated service model to meet the evolving needs of our customers,” said John Smith, incoming president and CEO. “
Fedex Freight projected fiscal 2026 revenue of $8.7 billion and adjusted operating income of $1.1 billion. The company also outlined four priorities to investors:
- Optimizing the network: LTL-focused operating model designed to drive efficiency through network optimization, fleet modernization, and lower cost-to-serve initiatives.
- Leading commercial offering: Differentiated strategy that offers customers the flexibility to choose between faster transit times or more economic alternatives.
- Advancing technology capabilities: Modernized technology strategy that streamlines systems, strengthens data and analytics capabilities, and leverages automation and AI to optimize performance.
- Financial value creation: Accelerate profitable growth and maintain a disciplined approach to capital allocation to unlock value for stockholders.
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