FedEx Names John Dietrich as ...

FedEx Names John Dietrich as new EVP and CFO

Jul 19, 2023

(Image Source: Bannon Morrissy/ Unsplash)

FedEx Corp. has recently made significant changes to its finance organization, including the appointment of John W. Dietrich as the new Executive Vice President and Chief Financial Officer. Dietrich, who previously served as the CEO of Atlas Air Worldwide, will assume his new role on August 1, 2023. The appointment comes as part of FedEx's ongoing transformation and strategic shifts within its finance division.

John Dietrich brings with him over 30 years of experience in the aviation and air cargo industries. During his tenure at Atlas Air Worldwide, Dietrich held various leadership roles, including President, CEO, and member of the Board of Directors since 2020. He served as the COO responsible for global operations before becoming CEO in 2020. Prior to joining Atlas Air Worldwide, Dietrich spent 13 years at United Airlines. He currently holds significant roles in various industry organizations, including Chairman of the National Defense Transportation Association and director on the board of AAR Corporation.

“I am thrilled to be joining the FedEx team to support and advance DRIVE and other important corporate initiatives to foster greater efficiencies, manage costs, and provide innovative solutions that benefit the entire organization,” Dietrich said. “Together, we will deliver on the tremendous opportunity FedEx has to expand margins and improve returns as we build off a lower cost base, which will deliver significant long-term value for our stockholders. And we will do this while continuing to provide the outstanding level of service that is synonymous with the FedEx brand.”

In addition to Dietrich's appointment, there will be other key changes within the finance organization. Michael C. Lenz, the current Executive Vice President and CFO, will transition out of his role on July 31, 2023. However, he will continue to support the company as a Senior Advisor until December 31, 2023, ensuring a smooth transition.

Jennifer L. Johnson, the corporate vice president and principal accounting officer, will also take on an expanded role. She will oversee the consolidation of the company's international accounting teams into a single global organization under her responsibility. Johnson will also be in charge of all controllership functions, including the consolidation process, SEC reporting, statutory reporting, and Sarbanes-Oxley compliance.

Leslie M. Benners, previously the Senior Vice President of Finance and former CFO of FedEx Office and FedEx Services, will now lead the company's sourcing and procurement efforts with a globally consolidated team. Her focus will be on driving efficiencies to reduce costs across the enterprise.

Meanwhile, Claude F. Russ, currently the COO of FedEx Dataworks and former CFO of FedEx Freight, will join the corporate Finance team as the Corporate Vice President of Finance Transformation. Russ will provide oversight and accountability for the execution and measurement of enterprise financial objectives. His experience in financial planning and analysis and revenue management will be valuable in his new role.

Source: FedEx names John W. Dietrich as Executive Vice President and Chief Financial Officer

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