John W. Dietrich named as EVP and CFO for FedEx

FedEx Corp. has named John W. Dietrich as the new Executive Vice President (EVP) and Chief Financial Officer (CFO), effective from August 1, 2023. Dietrich previously served as the CFO of Atlas Air Worldwide. This appointment comes as part of the company’s ongoing transformation, with strategic shifts in the finance organisation.

Michael C. Lenz, the current EVP and CFO, will be stepping down from his role on July 31, 2023. However, he will continue to support the company as a senior advisor until December 31, 2023, to ensure a seamless transition.

In addition to these changes, the finance organisation will see further developments:

Jennifer L. Johnson, the CVP and Principal Accounting Officer, will take on an expanded role. She will oversee the consolidation of the company’s international accounting teams into a single global organization under her purview. Furthermore, Johnson will be responsible for all controllership functions, including the consolidations process, SEC reporting, statutory reporting and Sarbanes-Oxley compliance.

Leslie M. Benners, the SVP of Finance and former CFO of FedEx Office and FedEx Services, will now lead the company’s sourcing and procurement efforts. She will head a consolidated global team with a focus on driving efficiencies to reduce costs across the enterprise.

Claude F. Russ, currently the COO of FedEx Dataworks and former CFO of FedEx Freight, will join the corporate finance team as the CVP of Finance Transformation. His role will involve overseeing and ensuring the execution and measurement of the company’s financial objectives. Russ will draw on his experience in financial planning and analysis and revenue management from his previous roles at FedEx. Notably, he played a key leadership role in the DRIVE transformation framework, which will enable this work.