air-cargo

FedEx Board Clears Way for Freight Division Spinoff

FedEx's board has approved the separation of FedEx Freight into an independent publicly traded company, moving forward with plans first announced in December 2024. The split aims to unlock shareholder value and position FedEx Freight for growth in the less-than-truckload market. Under the separation plan, FedEx will distribute an 80.1% pro rata dividend of FedEx Freight shares to its stockholders. FedEx Freight will retain 9% of outstanding shares, with plans to dispose of those holdings within 24 months of completion. Trading of FedEx Freight common stock on the New York Stock Exchange is scheduled to begin June 1. R. Brad Martin, executive chairman of the FedEx Board, will serve as incoming chairman of the FedEx Freight board. As separate organizations, the companies will build on their respective industry leadership positions to serve customers with excellence while creating shareholder value.