FedEx has announced the appointment of John W. Dietrich, former Chief Executive Officer of Atlas Air Worldwide, as the new Executive Vice President and Chief Financial Officer (CFO), effective August 1, 2023. The company is also implementing strategic shifts within its finance organisation to bolster its ongoing transformation.
Dietrich, who previously served as the Chief Executive Officer of Atlas Air Worldwide, brings a wealth of experience to his new role. He is poised to support and advance FedEx’s initiatives, fostering greater efficiencies, managing costs, and providing innovative solutions that benefit the entire organisation. With a focus on expanding margins and improving returns, Dietrich aims to deliver significant long-term value for FedEx’s stockholders while maintaining the outstanding level of service synonymous with the FedEx brand.
As part of the changes, Michael C. Lenz, the current EVP and CFO, will transition out of his role on July 31, 2023, and assume the position of Senior Advisor until December 31, 2023, to facilitate a smooth transition. Jennifer L. Johnson, the corporate vice president, will take on an expanded role, consolidating the company’s international accounting teams into one global organisation under her responsibility.
Leslie M. Benners, senior vice president of finance, will lead the sourcing and procurement efforts with a globally consolidated team to drive efficiencies and reduce costs across the enterprise. Additionally, Claude F. Russ, currently the COO of FedEx Dataworks, will join the corporate finance team as the Corporate Vice President of Finance Transformation. Raj Subramaniam, President and CEO of FedEx, expressed confidence in the new finance leadership team’s ability to generate efficiencies, improve margins, and enhance returns while maintaining the company’s outstanding level of service.