1. Marshall Witt appointed CFO of FedEx Freight from October 15. 2. Witt's experience includes substantial growth at TD SYNNEX and spin-off execution. 3. FedEx Freight's leadership team is now complete ahead of its spin-off. 4. Leadership aims to unlock enterprise value and drive profitable growth. 5. The spin-off signifies a critical transition for FedEx Freight's strategic direction.
Witt's proven track record may enhance FedEx Freight’s profitability and market appeal. Historical data shows strong leadership impacts performance positively, especially during transitions.
The article focuses on significant leadership shifts and a spin-off, crucial for FDX’s future growth and valuation.
The benefits of leadership changes and spin-offs, such as increased operational efficiency and market focus, typically require time to materialize, often over multiple quarters or years.
Leadership team fully in place ahead of spin-off
FedEx Corp. (NYSE:FDX) today announced that Marshall Witt, formerly the chief financial officer of TD SYNNEX, a leading global IT distributor and solutions provider, has been appointed senior vice president and chief financial officer of FedEx Freight, effective October 15.
During his 12 years as CFO of TD SYNNEX, Witt led the company through a period of extraordinary revenue and EBITDA growth, driving significant value creation. He brings strong capital allocation, M&A, and spin-off experience, having overseen TD SYNNEX's spin-off of Concentrix in 2020.
Prior to joining TD SYNNEX, Witt spent 15 years at FedEx, primarily within the FedEx Freight finance organization where he most recently served as senior vice president of finance and controller.
"Marshall's extensive expertise in guiding companies through critical periods of transition to deliver profitable growth will unlock enterprise-wide value for FedEx Freight, its team members, customers, and stockholders," said John Smith, president and chief executive officer–select of FedEx Freight. "I am confident the FedEx Freight leadership team brings the right industry and subject matter expertise to advance the company's strategy and take it to new heights."
The company previously announced that Smith will serve as president and chief executive officer and R. Brad Martin will serve as chairman of the board of FedEx Freight, with both appointments effective upon the spin-off of the company. Witt's appointment rounds out FedEx Freight's executive leadership team with the following previously announced leadership roles as FedEx prepares for the separation of FedEx Freight into an independent company:
"I am thrilled to work with this talented group of individuals to grow FedEx Freight as an independent business and lead the company into this exciting new chapter," said Witt. "I look forward to working closely with John and the broader leadership team to realize the value-creation opportunity the spin-off presents for stockholders."
About FedEx Corp.
FedEx Corp. (NYSE:FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $89 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.
Cautionary Statement Regarding Forward-Looking Information
Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act (the "PSLRA"), such as statements regarding the planned separation of FedEx Freight into a new publicly traded company (the "FedEx Freight Spin-Off"), business strategies, management's views with respect to future events and financial performance, and the assumptions underlying such statements. Forward-looking statements include those preceded by, followed by or that include the words "will," "may," "could," "would," "should," "believes," "expects," "forecasts," "anticipates," "plans," "estimates," "targets," "projects," "intends" or similar expressions. Such forward-looking statements, which are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the PSLRA as well as other legal protections, are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, FedEx's ability to successfully implement the FedEx Freight Spin-Off and achieve the anticipated benefits of such transaction and other factors which can be found in FedEx's and its subsidiaries' press releases and FedEx's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended May 31, 2025. Any forward-looking statement speaks only as of the date on which it is made. FedEx does not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251006606754/en/
Caitlin Maier
901-434-8100
mediarelations@fedex.com