FedEx announced that Chief Financial Officer John W. Dietrich will step down from his role as executive vice president and CFO on June 1, 2026, in conjunction with the completion of the planned spin-off of FedEx Freight into a separate publicly traded company.
Dietrich will remain with the company through July 31 to support the transition. Following his departure from the CFO role, Claude Russ, currently enterprise vice president of finance, will serve as interim CFO while FedEx conducts a comprehensive internal and external search for a permanent successor.
The leadership transition aligns with a significant milestone for FedEx as it completes the separation of its Freight business, part of a broader strategic transformation aimed at enhancing operational focus and long-term value creation.
Russ brings more than two decades of experience within FedEx, currently leading global financial planning and analysis as well as finance initiatives tied to the company’s DRIVE transformation program. His prior roles include chief operating officer of FedEx Dataworks, senior vice president of revenue management at FedEx Services, and chief financial officer of FedEx Freight.
FedEx also reaffirmed its fiscal year 2026 outlook and its longer-term 2029 financial targets previously shared with investors, signaling continued confidence in its strategic direction and execution.
FedEx provides a broad range of transportation, e-commerce, and business services globally, supported by a large-scale logistics network and a workforce of more than 500,000 employees.
KEY QUOTE:
“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. 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.”
Raj Subramaniam, President And Chief Executive Officer, FedEx
