FedEx Finalizes Freight Spin-Off Leadership with CFO Witt, Appoints EVP Preet

FedEx is strengthening its leadership as it prepares to spin off its freight trucking unit, FedEx Freight, in June 2026. Marshall Witt, who previously served as CFO of TD Synnex and held various finance roles at FedEx, has been appointed CFO of the freight division, completing its leadership team ahead of the spin-off. FedEx Freight, valued between $30 billion and $35 billion by analysts, is a dominant player in the U.S. less-than-truckload market, generating $8.89 billion in revenue in fiscal year 2025 and operating around 355 service centers with 40,000 employees. Additionally, FedEx appointed Kawal Preet as Executive Vice President of Planning, Engineering, and Transformation, responsible for leading the DRIVE transformation initiatives and overseeing global network integration efforts. Preet, formerly regional president of FedEx Asia Pacific, brings 28 years of experience and will report directly to FedEx CEO Raj Subramaniam, joining the company's Executive Committee. These leadership moves aim to streamline FedEx's operations and enhance focus on both its parcel and freight businesses to create long-term value for stakeholders.