Parcel delivery giant FedEx Corp. today named two insiders as the executives who will lead its planned spinoff of the company’s less than truckload (LTL) FedEx Freight division into a new publicly traded company.
The Memphis-based company first announced that plan in December, and today confirmed that the spinoff remains on track to occur by June, 2026.
When the new company launches, its president and CEO will be John A. Smith—who is currently chief operating officer, U.S. and Canada, of Federal Express—and its chairman of the board will be R. Brad Martin, who is currently vice chairman of the FedEx Corp. board of directors.
“I cannot think of two individuals with more knowledge of, or commitment to, the long-term success of the FedEx Freight business than John Smith and Brad Martin,” Raj Subramaniam, president and CEO of FedEx Corp., said in a release. “Together they have the track record and expertise to successfully lead this new and exciting chapter for the independent FedEx Freight company.”
