FedEx Corp. has announced that its chief financial officer (CFO), John Dietrich, well step down from his role.

The news ties into when the company expects to complete its spin-off of FedEx Freight into a new publicly traded company, on June 1, 2026. That’s when Dietrich officially steps down from the CFO role at FedEx.

In its April 13, announcement, FedEx said Dietrich will remain with the company until July 31.

Close to half of the Top 2000 retailers in North America use FedEx as a shipping carrier, according to Digital Commerce 360 data. The Top 2000 refers to North America’s largest online retailers by annual ecommerce sales.

Those retailers using FedEx as a shipping carrier combined for $789.51 billion in 2025 ecommerce sales, according to Digital Commerce 360 data.

In March 2026, FedEx said it would offer two-hour delivery through an initiative it called SameDay Local. Also in March, FedEx and Amazon announced they would together expand on free returns options. FedEx also announced reusable boxes for B2B shipments.

About the next FedEx CFO

FedEx said Claude Russ, enterprise vice president of finance, will serve as its interim CFO, effective June 1.

The company said it is conducting “a comprehensive internal and external search for a successor.” It also affirmed the outlook for its fiscal 2026 that it shared in the latest FedEx quarterly earnings call.

FedEx CEO Raj Subramaniam thanked Dietrich “for his many contributions” in the company’s announcement. Subramaniam said Dietrich helped as FedEx “successfully navigated a significant company transformation.”

Russ currently leads the FedEx Global Financial Planning and Analysis team. He also leads the finance initiatives in the company’s “DRIVE” initiative, its multi-year strategic transformation program.

Russ has 24 years of experience at FedEx. He has served in leadership positions including:

• Chief operating officer (COO) of FedEx Dataworks
• Senior vice president of revenue management at FedEx Services
• CFO of FedEx Freight

FedEx said a “bench of highly experienced and capable leaders” further support its finance team.

“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,” Subramaniam said.

Sign up

Sign up for a complimentary subscription to Digital Commerce 360 B2B News. It covers technology and business trends in the growing B2B ecommerce industry. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube.