FedEx Corp. announced on Monday that it has fully assembled the leadership team for its less-than-truckload unit, which is scheduled to spin off into a separately traded company by June. Marshall Witt, who led a spinoff of IT firm TD SYNNEX and previously worked in finance at FedEx, has been named chief financial officer.
Witt has been the CFO of IT distributor and solutions provider TD SYNNEX (NYSE: SNX) for the past 12 years. In addition to orchestrating that company’s 2020 separation from Concentrix (NASDAQ: CNXC), he brings capital allocation and M&A experience to the organization.
“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, who was recently announced as FedEx Freight’s new president and CEO.
In addition to being the CFO, Witt will also serve as a senior vice president with the company beginning on Oct. 15.
“I am confident the FedEx Freight leadership team brings the right industry and subject matter expertise to advance the company’s strategy and take it to new heights,” Smith said.
Memphis, Tennessee-based FedEx (NYSE: FDX) previously announced other key leadership roles at FedEx Freight.
FedEx Vice Chairman Brad Martin will become the chairman of the LTL company. He is credited with leading the board’s strategic review of the separation.
Mike Rodgers was previously named FedEx Freight’s chief technology officer. He held a similar role at Pilot Company (Pilot Flying J). Thirty-year FedEx veteran Eddie Klank is the new chief human resources and legal officer.
FedEx Freight veterans Mike Lyons and Clint McCoy are now serving as chief specialized services and commercial officer, and chief operating officer, respectively.
“I look forward to working closely with John and the broader leadership team to realize the value-creation opportunity the spin-off presents for stockholders,” Witt said.
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