FedEx Freight Completes Executive Team With New CFO Witt
Appointment Marks One of the Final Steps Toward Becoming Standalone LTL Carrier
Key Takeaways:
- FedEx Corp. named Marshall Witt chief financial officer of FedEx Freight effective Oct. 15 as the unit prepares for its planned spinoff.
- Witt, a former FedEx executive and recent TD SYNNEX CFO, brings experience in corporate separations and growth to the forthcoming standalone carrier.
- His appointment completes the leadership team that will guide FedEx Freight’s separation, expected to create the largest LTL carrier in North America.
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FedEx Corp. has appointed Marshall Witt chief financial officer and senior vice president of FedEx Freight, rounding out the leadership team ahead of its planned spinoff into the nation’s largest less-than-truckload carrier.
Witt, who most recently served as chief financial officer of TD SYNNEX, . His appointment marks a return to familiar ground; Witt spent 15 years at FedEx earlier in his career, including in senior finance leadership positions at FedEx Freight.
During his 12 years at TD SYNNEX, a global IT distributor, Witt helped guide the company through revenue and EBITDA growth while overseeing its 2020 spinoff of Concentrix. The experience will likely inform this new role as FedEx Freight prepares to launch as a standalone business, a move FedEx says will sharpen its operational focus and create value for shareholders.
“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 CEO-select of FedEx Freight. Smith will lead the independent company once the separation is complete, with R. Brad Martin serving as chairman of the board.
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Witt’s arrival finalizes the executive leadership team that will steer FedEx Freight through its separation from the broader FedEx organization. The group includes Smith and Martin, as well as Mike Rodgers as chief technology officer, Eddie Klank as chief human resources and legal officer, Mike Lyons as chief specialized services and commercial officer, and Clint McCoy as chief operating officer.
FedEx announced the planned spinoff in December 2024 as part of a multiyear effort to streamline its business and focus its core units. Once independent, FedEx Freight is expected to emerge as the largest LTL carrier in North America.
“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,” Witt said.
FedEx ranks No. 2on the Transport TopicsTop 100 list of the largest for-hire carriers in North America, and FedEx Freight isNo. 1 on the LTL carriers list. FedEx also ranks No. 2 on theTT Top 50 list of the largest global freight carriers.FedEx Logistics ranks No. 43on theTT Top 100 logistics companies list.
Generative AI assisted in the creation of this article.
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