Marshall Witt, formerly the chief financial officer of TD SYNNEX, a global IT distributor and solutions provider, has been appointed senior vice president and chief financial officer of FedEx Freight, effective October 15.
FedEx Corp. (CCJ Top 250, No. 1) late last year announced it plans to spin-off of its less-than-truckload freight business into a separate publicly traded company. The company said previously it is on pace to complete the split by mid-next year.
During his 12 years as CFO of TD SYNNEX, Witt led the company through a period of revenue and EBITDA growth and, according to FedEx, brings strong capital allocation, M&A, and spin-off experience, having overseen TD SYNNEX’s spin-off of Concentrix in 2020.
“Marshall’s extensive expertise in guiding companies through critical periods of transition to deliver profitable growth will unlock enterprise-wide value for FedEx Freight, its team members, customers, and stockholders,” said John Smith, president and chief executive officer–select of FedEx Freight. “I am confident the FedEx Freight leadership team brings the right industry and subject matter expertise to advance the company’s strategy and take it to new heights.”
Prior to joining TD SYNNEX, Witt spent 15 years at FedEx, primarily within the FedEx Freight finance organization where he most recently served as senior vice president of finance and controller.
Witt’s appointment rounds out FedEx Freight’s executive leadership team with the following previously announced leadership roles:
- Mike Rodgers, chief technology officer: With his most recent experience as chief technology and information officer for Pilot Company and previous leadership positions at Saks Fifth Avenue and JCPenney Corporation, Rodgers brings vast technology and operations experience.
- Eddie Klank, chief human resources and legal officer: Klank brings deep expertise from his nearly 30-year career at FedEx Corp., where he previously served as corporate vice president overseeing corporate integrity and compliance, enterprise claims and risk management, securities law, mergers and acquisitions law, tax law, and enterprise strategic sustainability.
- Mike Lyons, chief specialized services and commercial officer: Since joining FedEx Freight in 2007, Lyons has held roles in sales, marketing, customer experience, and revenue quality. He now oversees those functional areas as well as international operations and FedEx Custom Critical.
- Clint McCoy, chief operating officer: With nearly 30 years of experience at FedEx Freight, McCoy brings deep industry knowledge and expertise. Prior to his current role, McCoy served as senior vice president of operations support and engineering.
“I am thrilled to work with this talented group of individuals to grow FedEx Freight as an independent business and lead the company into this exciting new chapter,” said Witt. “I look forward to working closely with John and the broader leadership team to realize the value-creation opportunity the spin-off presents for stockholders.”
Smith will serve as FedEx Freight president and chief executive officer and R. Brad Martin will serve as chairman of the board, with both appointments effective upon the spin-off of the company.
Lance Moll, former president of FedEx Freight, retired Jan. 31 and moved into an executive advisor position ending July 31.
