• FedEx CFO John Dietrich will step down on June 1 following the planned spin-off of FedEx Freight, remaining with the company until July 31.
• Claude Russ will take over as interim CFO while a successor is appointed, ensuring continuity as FedEx continues its transformation and long-term strategic plans.

FedEx announced that John Dietrich will step down as executive vice president and chief financial officer on June 1 upon successful 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, FedEx enterprise vice president, Finance will serve as interim CFO, effective June 1, as the company conducts a comprehensive internal and external search for a successor. Additionally, FedEx affirms the FY26 outlook shared on its last earnings call, along with the 2029 targets shared at its Investor Day in February.

“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,” said Raj Subramaniam, president and chief executive officer of FedEx Corporation.

“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.”

In Russ’ current role, he leads the FedEx Global Financial Planning and Analysis team as well as the finance initiatives within the company’s DRIVE transformation.

With 24 years of experience at FedEx, he has served in a variety of leadership positions including COO of FedEx Dataworks, senior vice president of Revenue Management at FedEx Services, and CFO of FedEx Freight. The FedEx Finance team is further supported by a bench of highly experienced and capable leaders.

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