FedEx CFO John Dietrich to step down as Freight spin-off nears
Claude Russ to take interim CFO role from June 1 as FedEx begins search and reaffirms FY26 outlook and 2029 targets
John Dietrich, Executive Vice President and Chief Financial Officer, FedEx
FedEx has announced that its executive vice president and chief financial officer, John W. Dietrich, will step down on June 1 following the 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, currently enterprise vice president, Finance, will take over as interim CFO from June 1 while the company conducts a comprehensive search for a successor.
The company said the timing of Dietrich’s departure aligns with the completion of the FedEx Freight spin-off. FedEx also reaffirmed its FY26 outlook shared during its last earnings call, along with its 2029 targets announced at its Investor Day in February.
Raj Subramaniam, president and chief executive officer of FedEx Corporation, thanked Dietrich for his contributions over the past several years, noting his role in navigating a significant company transformation and delivering the upcoming spin-off of the Freight business. He added that Russ’s experience would ensure continuity as the company advances its strategy.
In his current role, Russ leads the FedEx Global Financial Planning and Analysis team and oversees finance initiatives within the company’s DRIVE transformation. He has been with FedEx for 24 years and has held several leadership roles, including chief operating officer of FedEx Dataworks, senior vice president of Revenue Management at FedEx Services, and chief financial officer of FedEx Freight. The company added that its finance team is supported by a strong bench of experienced leaders.
