FedEx’s Board of Directors has approved a plan to fully separate FedEx Freight into a new publicly traded company, expected to be completed within 18 months. With a revenue of $9.4 billion in fiscal 2024, FedEx Freight leads the less-than-truckload (LTL) market and has seen significant operating profit growth. This separation aims to enhance operational execution and investment strategies tailored to both FedEx and FedEx Freight, while maintaining their collaboration on key initiatives. CEO Raj Subramaniam emphasized that this move will unlock value for the Freight business and benefit stakeholders.

Source: https://www.stattimes.com/logistics/fedex-to-separate-fedex-freight-create-two-public-companies-1354043