FedEx Corp. Announces Board of Directors for Upcoming Spin-Off of FedEx Freight
In a significant step forward as part of its strategic restructuring, FedEx Corp. has unveiled the board of directors for its forthcoming independent freight operation, FedEx Freight. This move is ahead of the anticipated spin-off slated for June 1.
Overview of the Board
The newly formed 10-member board comprises both existing FedEx leaders and distinguished executives from various sectors, including transportation, logistics, finance, technology, and public policy. Their role will be pivotal as FedEx Freight transitions into a standalone entity.
R. Brad Martin, the Executive Chairman of the FedEx Corp. board, will serve as the Chairman of the FedEx Freight board. Additionally, John Smith, who is set to assume the role of President and Chief Executive Officer of FedEx Freight, will also hold a director position.
Leadership Statements
Brad Martin expressed confidence in the new leadership team, stating, “We’ve assembled a group of prominent industry leaders who share a strong commitment to the customer-first culture that defines FedEx. Their diverse perspectives and proven leadership will be instrumental in supporting FedEx Freight as it executes a focused strategy and builds on its position as the largest North American LTL freight carrier with industry-leading transit times, service levels, and reliability.”
Echoing this sentiment, John Smith remarked, “I look forward to working with our incoming directors upon completion of the spin-off, leveraging their experience and perspectives, while continuing to partner with Brad and our leadership team as we progress toward launching a world-class, independent organization.”
Newly Appointed Board Members
- R. Brad Martin, Chairman of the Board, FedEx Freight; Executive Chairman, FedEx Corp.
- John A. Smith, Director; President and Chief Executive Officer, FedEx Freight
- Jeffrey A. Davis, Director; former Chief Financial Officer, Dollar Tree, Inc.
- Donald E. Frieson, Director; former Executive Vice President, Supply Chain, Lowe’s Companies, Inc.
- Stephen E. Gorman, Director; former Chief Executive Officer, Air Methods Corporation
- Robert A. King, Director; former Corporate Vice President, Internal Audit, FedEx Corp.
- Cindy J. Miller, Director; former President and Chief Executive Officer, Stericycle, Inc.
- Amy J. Salcido, Director; former President, U.S., Kyndryl Holdings, Inc.
- John P. Sauerland, Director; Vice President and Chief Financial Officer, The Progressive Corporation
- Samantha M. Smith, Director; Staff Director, Global Public Policy, FedEx Corp.
FedEx Freight’s Path Forward
Once the spin-off is realized, FedEx Freight will operate as a fully independent, publicly traded company. This strategic shift is aimed at providing the LTL unit with enhanced flexibility to tailor its network, pricing strategies, and long-term investments, independent of the broader FedEx organization.
As the largest North American LTL carrier, FedEx Freight boasts a comprehensive nationwide network, serving a diverse customer base that includes retail, manufacturing, and industrial sectors. Following the spin-off, the freight division will have the autonomy to make its own capital allocation, technology investments, and operational decisions, while remaining aligned with FedEx for transition services.
FedEx has asserted that this spin-off is intended to refine strategic focus across its various divisions, enabling both FedEx Freight and the remaining FedEx businesses to effectively pursue growth opportunities aligned with their unique market needs.
