FedEx to Spin Off Freight Division, Creating Largest LTL Carrier
Source: truckingdive.com FedEx to Separate FedEx Freight into Independent Company On December 19, FedEx Corp. announced plans to spin off its FedEx Freight unit into a separate publicly traded company. This move positions FedEx Freight as the largest publicly traded less-than-truckload (LTL) carrier in North America. The decision came after a thorough evaluation by FedEx’s board of directors regarding the role of FedEx Freight within the company’s broader portfolio. The spin-off is expected to enhance operational focus for both entities while maintaining synergies between the two. FedEx Corp. CEO Raj Subramaniam explained the timing of the decision, saying, “This is the right time to pursue a separation as we respond to the unique dynamics of the LTL market. Through this process, we will unlock value for our Freight business and position FedEx to create even greater value for stockholders.” The separation process is set to begin immediately and is projected to be completed within...