FedEx Corp. (NYSE: FDX) today announced the ten-member board of directors for FedEx Freight, ahead of its planned spinoff from FedEx Corp. on June 1.
R. Brad Martin, current executive chairman of the FedEx Corp. board of directors, will serve as chairman of the board of FedEx Freight. John Smith, the incoming president and chief executive officer of FedEx Freight, will also serve as a director, alongside eight other highly experienced leaders across the transportation and logistics, supply chain management, and technology sectors.
“We’ve assembled a group of prominent industry leaders who share a strong commitment to the customer-first culture that defines FedEx,” said Martin. “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.”
“I look forward to working with our incoming directors upon completion of the spinoff, 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,” said John Smith.
FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $90 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network.
FDX shares opened trading Friday up 84 cents, or 0.3%, to $314.00
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