
Timing to coincide with completion of the FedEx Freight spin-off


Enterprise Vice President, Finance, Claude Russ to serve as Interim CFO while company conducts search


FedEx Corp. (NYSE:FDX) today announced that John

<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">Timing to coincide with completion of the FedEx Freight spin-off</i>

</p><p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">Enterprise Vice President, Finance, Claude Russ to serve as Interim CFO while company conducts search</i>

</p><p xmlns="http://www.w3.org/1999/xhtml" class="bwalignl">
FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FDX">FDX</a>) today announced that John Dietrich will step down as executive vice president and chief financial officer on June 1 upon successful completion of the spin-off of FedEx Freight into a new publicly traded company. He will remain with the company until July 31. Claude Russ, FedEx enterprise vice president, Finance will serve as interim CFO, effective June 1, as the company conducts a comprehensive internal and external search for a successor. Additionally, FedEx affirms the FY26 outlook shared on its last earnings call, along with the 2029 targets shared at its Investor Day in February.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"I want to thank John for his many contributions to the FedEx leadership team over the last several years as we successfully navigated a significant company transformation and delivered on the upcoming spin of our Freight business," said Raj Subramaniam, president and chief executive officer of FedEx Corporation. "As we begin the search for John's successor, I am confident that Claude's wealth of experience will ensure seamless continuity and commitment to advancing our strategy."

</p><p xmlns="http://www.w3.org/1999/xhtml">
In Russ' current role, he leads the FedEx Global Financial Planning and Analysis team as well as the finance initiatives within the company's DRIVE transformation. With 24 years of experience at FedEx, he has served in a variety of leadership positions including COO of FedEx Dataworks, senior vice president of Revenue Management at FedEx Services, and CFO of FedEx Freight. The FedEx Finance team is further supported by a bench of highly experienced and capable leaders.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About FedEx Corp.</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FDX">FDX</a>) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $92 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world&#39;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 <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Ffedex.com%2Fabout&amp;esheet=54500163&amp;newsitemid=20260413755727&amp;lan=en-US&amp;anchor=fedex.com%2Fabout&amp;index=1&amp;md5=c26b789bfd6f7086f74d9893dcb8742d" shape="rect">fedex.com/about</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Cautionary Statement Regarding Forward-Looking Information</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding FY26 outlook and FedEx's 2029 targets. 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 are based on management's current expectations and 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 the 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, and subsequently filed Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made. FedEx does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260413755727r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260413755727/en/" rel="nofollow">https://www.businesswire.com/news/home/20260413755727/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Media Contact:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Caitlin Maier
<br xmlns="http://www.w3.org/1999/xhtml"></br>901-434-8100
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:mediarelations@fedex.com" shape="rect">mediarelations@fedex.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Investor Relations Contact:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Jeni Hollander
<br xmlns="http://www.w3.org/1999/xhtml"></br>901-818-7200
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:ir@fedex.com" shape="rect">ir@fedex.com</a>

</p>

FedEx Chief Financial Officer John W. Dietrich to Step Down June 1

FedEx CFO Resignation Occurs Amid Freight Spin-Off Completion

FedEx said on Monday Chief Financial ​Officer John Dietrich would step down, ‌effective June 1, afte...

FedEx CFO John Dietrich to step down

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Timing to coincide with completion of the FedEx Freight spin-off


Enterprise Vice President, Finance, Claude Russ to serve as Interim CFO while company conducts search


FedEx Corp. (NYSE:FDX) today announced that John</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>FedEx&#039;s CFO, John Dietrich, will resign effective June 1, following the FedEx Freight spin-off. The company maintains its FY26 outlook and 2029 targets, signaling stability amidst leadership changes.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>John Dietrich resigns as CFO, effective June 1.</li><li>Claude Russ will serve as Interim CFO during the search.</li><li>FedEx confirms its FY26 outlook and 2029 targets.</li><li>Spin-off of FedEx Freight is nearing completion.</li><li>CEO expresses confidence in maintaining strategic continuity.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>FedEx Corporation (FDX)</strong>: CFO resignation coincides with significant corporate restructuring.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news fits under &#039;Corporate Developments&#039; as it signals key leadership changes in FedEx during a transformative period. It reflects the company&#039;s ongoing strategic adjustments and potential future business performance.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The successful spin-off may unlock value for FedEx investors.</li><li>Leadership changes could impact investor sentiment and stock price volatility.</li><li>Confirmation of FY26 outlook helps stabilize current market expectations.</li><li>A smooth transition to interim CFO may mitigate any leadership concerns.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>John Dietrich steps down as CFO on June 1.</li><li>Claude Russ appointed as Interim CFO from June 1.</li><li>FedEx affirms FY26 outlook, consistent with previous earnings calls.</li><li>The spin-off of FedEx Freight is nearing completion.</li><li>FedEx generated $92 billion in annual revenue.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>FDX remains a buy as strategic continuity is assured during the leadership transition.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">Timing to coincide with completion of the FedEx Freight spin-off</i>

</p><p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">Enterprise Vice President, Finance, Claude Russ to serve as Interim CFO while company conducts search</i>

</p><p xmlns="http://www.w3.org/1999/xhtml" class="bwalignl">
FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FDX">FDX</a>) today announced that John Dietrich will step down as executive vice president and chief financial officer on June 1 upon successful completion of the spin-off of FedEx Freight into a new publicly traded company. He will remain with the company until July 31. Claude Russ, FedEx enterprise vice president, Finance will serve as interim CFO, effective June 1, as the company conducts a comprehensive internal and external search for a successor. Additionally, FedEx affirms the FY26 outlook shared on its last earnings call, along with the 2029 targets shared at its Investor Day in February.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"I want to thank John for his many contributions to the FedEx leadership team over the last several years as we successfully navigated a significant company transformation and delivered on the upcoming spin of our Freight business," said Raj Subramaniam, president and chief executive officer of FedEx Corporation. "As we begin the search for John's successor, I am confident that Claude's wealth of experience will ensure seamless continuity and commitment to advancing our strategy."

</p><p xmlns="http://www.w3.org/1999/xhtml">
In Russ' current role, he leads the FedEx Global Financial Planning and Analysis team as well as the finance initiatives within the company's DRIVE transformation. With 24 years of experience at FedEx, he has served in a variety of leadership positions including COO of FedEx Dataworks, senior vice president of Revenue Management at FedEx Services, and CFO of FedEx Freight. The FedEx Finance team is further supported by a bench of highly experienced and capable leaders.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About FedEx Corp.</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FDX">FDX</a>) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $92 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world&#39;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 <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Ffedex.com%2Fabout&amp;esheet=54500163&amp;newsitemid=20260413755727&amp;lan=en-US&amp;anchor=fedex.com%2Fabout&amp;index=1&amp;md5=c26b789bfd6f7086f74d9893dcb8742d" shape="rect">fedex.com/about</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Cautionary Statement Regarding Forward-Looking Information</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding FY26 outlook and FedEx's 2029 targets. 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 are based on management's current expectations and 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 the 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, and subsequently filed Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made. FedEx does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260413755727r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260413755727/en/" rel="nofollow">https://www.businesswire.com/news/home/20260413755727/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Media Contact:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Caitlin Maier
<br xmlns="http://www.w3.org/1999/xhtml"></br>901-434-8100
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:mediarelations@fedex.com" shape="rect">mediarelations@fedex.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Investor Relations Contact:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Jeni Hollander
<br xmlns="http://www.w3.org/1999/xhtml"></br>901-818-7200
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:ir@fedex.com" shape="rect">ir@fedex.com</a>

</p>

FedEx's CFO, John Dietrich, will resign effective June 1, following the FedEx Freight spin-off. The company maintains its FY26 outlook and 2029 targets, signaling stability amidst leadership changes.

FedEx Chief Financial Officer John W. Dietrich to Step Down June 1

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News