FedEx Announces Board of Directors for Future Independent FedEx Freight

Board includes veteran leaders with transportation and logistics, financial, and technology expertise

MEMPHIS, Tenn.–(BUSINESS WIRE)–FedEx Corp. (NYSE: FDX) today announced the ten-member board of directors for FedEx Freight, ahead of its planned spin-off from FedEx Corp. on June 1, 2026.

As previously announced, R. Brad Martin, current executive chairman of the FedEx Corp. board of directors, will serve as chairman of the board of FedEx Freight. John Smith, the incoming president and chief executive officer of FedEx Freight, will also serve as a director, alongside eight other highly experienced leaders across the transportation and logistics, supply chain management, and technology sectors.

“We’ve assembled a group of prominent industry leaders who share a strong commitment to the customer-first culture that defines FedEx,” said Brad Martin. “Their diverse perspectives and proven leadership will be instrumental in supporting FedEx Freight as it executes a focused strategy and builds on its position as the largest North American LTL freight carrier with industry-leading transit times, service levels, and reliability.”

“I look forward to working with our incoming directors upon completion of the spin-off, leveraging their experience and perspectives, while continuing to partner with Brad and our leadership team as we progress toward launching a world-class, independent organization,” said John Smith.

Biographical Information

The FedEx Freight board will include the following individuals:

• R. Brad Martin will serve as chairman of the FedEx Freight board as previously announced. He has served as executive chairman of the board of FedEx Corp. since September 2025, and is also chairman of RBM Venture Company, a private investment company. Mr. Martin previously served as chairman and chief executive officer of Saks Incorporated and has held leadership and board roles at multiple public companies, including Chesapeake Energy Corporation.

• John A. Smith will serve as a member of the FedEx Freight board and president and chief executive officer of FedEx Freight upon completion of the separation. He is currently chief operating officer of U.S. and Canada for FedEx Corp. and a member of the FedEx Corp. executive committee. Mr. Smith previously served as president and chief executive officer of FedEx Ground and FedEx Freight and brings more than 30 years of transportation industry experience.

• Jeffrey A. Davis served as the chief financial officer of Dollar Tree, Inc. from October 2022 to March 2025; as the chief financial officer of Qurate Retail Group from October 2018 to September 2022; as the chief financial officer of J. C. Penney Company Inc. from July 2017 to September 2018; as the chief financial officer of Darden Restaurants, Inc. from July 2015 to March 2016; and as the chief financial officer of the Walmart U.S. segment of Walmart Inc. from January 2014 to May 2015. Mr. Davis has served as a director of Labcorp Holdings, Inc. since December 2019 where he serves as the chairman of the Audit Committee and as a member of the Quality and Compliance Committee. Mr. Davis is well-qualified to serve as a member of the FedEx Freight board because of his extensive financial leadership experience across multiple industries.

• Donald E. Frieson served as executive vice president, supply chain of Lowe’s Companies, Inc. from August 2018 to March 2024. He previously spent 19 years within the Walmart organization, where he served as executive vice president, operations at Sam’s Club from 2014 to 2017 and senior vice president, replenishment, planning, and real estate from 2012 to 2014. Mr. Frieson has served as a director of Casey’s General Stores, Inc. since March 2018 where he serves as a member of the Compensation and Human Capital Committee. He served as a member of the Advisory Committee for Supply Chain Competitiveness for the U.S. Department of Commerce from February 2022 to February 2024. Mr. Frieson is well-qualified to serve as a member of the FedEx Freight board because of his significant leadership experience in supply chain management.

• Stephen E. Gorman served as chief executive officer of Air Methods Corporation, a leading domestic provider in the air medical market, from August 2018 to January 2020. He previously served as the president and chief executive officer of Borden Dairy Company from 2014 to July 2017; as the executive vice president and chief operating officer of Delta Air Lines, Inc. from 2008 to 2014; as the executive vice president – operations of Delta Air Lines from 2007 to 2008; and as the president and chief executive officer of Greyhound Lines, Inc. from 2003 to 2007. Mr. Gorman has served as a director of Peabody Energy Corporation since April 2017 where he serves as chairman of the Nominating & Corporate Governance Committee and as a member of the Compensation Committee and the Executive Committee, and as a director of FedEx Corp. since September 2022 where he serves as a member of the Compensation and Human Resources Committee and the Governance, Safety, and Public Policy Committee. Mr. Gorman will resign from the FedEx Corp. board effective upon his joining the FedEx Freight board upon the separation. He served as a director of ArcBest Corporation from July 2015 to August 2022 and as the company’s lead independent director from January 1, 2022 until his resignation to join the FedEx Corp. board. Mr. Gorman is well-qualified to serve as a member of the FedEx Freight board because of his significant transportation and logistics leadership experience.

• Robert A. King served as corporate vice president, internal audit at FedEx Corp. from March 2011 to January 2025. He spent over four decades of his career in the FedEx Internal Audit department, holding positions with increasing responsibility. Mr. King is well-qualified to serve as a member of the FedEx Freight board because of his extensive financial and risk management experience during his tenure at FedEx.

• Cindy J. Miller served as the president and chief executive officer of Stericycle, Inc., a medical waste transportation company, from May 2019 to November 2024 when the company was acquired by Waste Management, Inc. and as a director of the company from February 2019 to November 2024. She served as president and chief operating officer of Stericycle, Inc. from October 2018 to May 2019. Prior to joining Stericycle, Inc., Ms. Miller spent nearly 30 years at United Parcel Service, Inc. (“UPS”) where she served as president, global freight forwarding from April 2016 to September 2018 and as president of the European region from March 2013 to March 2016. Ms. Miller has served as a director of W.W. Grainger, Inc. since April 2024 where she serves as a member of the Board Affairs & Nominating Committee and Compensation Committee. She also serves on the Board of Trustees of the Allspring Fund complex, which includes four closed-end funds. She served as a director of UGI Corporation from 2020 to 2024. Ms. Miller is well-qualified to serve as a member of the FedEx Freight board because of her significant leadership experience in the transportation and logistics industry.

• Amy J. Salcido served as president, U.S. of Kyndryl Holdings, Inc., a Fortune 500 provider of enterprise technology services spun off from International Business Machines Corporation (“IBM”) in 2021, from 2022 to 2025. She previously served as chief customer engagement & transformation officer from 2021 to 2022. Before joining Kyndryl, Ms. Salcido held senior leadership roles at IBM, including as general manager, services: retail, consumer products, travel & transportation — North America from 2020 to 2021, and as global vice president, new client acquisition from 2018 to 2020. She joined IBM in 1996 and held positions with increasing responsibility during her tenure with the company. Ms. Salcido was named No. 15 in Technology Magazine’s “Top 100 Women in Technology” in 2025. Ms. Salcido is well-qualified to serve as a member of the FedEx Freight board because of her significant technology experience and leadership experience with large-scale public company separation.

• John P. Sauerland has served as vice president and chief financial officer of The Progressive Corporation since April 2015 and as personal lines group president of The Progressive Corporation from 2007 to 2015. He joined The Progressive Corporation in 1991 as a product manager and has served in many key leadership positions during his tenure with the company. Mr. Sauerland served as a director of Beazley plc from 2016 to 2021. Mr. Sauerland is well-qualified to serve as a member of the FedEx Freight board because of his extensive leadership experience in finance and risk management.

• Samantha M. Smith currently serves as a staff director of global public policy at FedEx Corp., a position she has held since November 2020. It is expected that she will continue her employment at FedEx Corp. following the spin-off. Ms. Smith joined the FedEx Corp. Government and Regulatory Affairs team in 2016. Prior to FedEx Corp. she served in various roles in communications and public affairs. Ms. Smith is well-qualified to serve as a member of the FedEx Freight board because of her extensive experience in government affairs, public policy, and communications, including at FedEx Corp.

Goldman Sachs & Co. LLC is serving as the financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel.

About FedEx Corp.

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $90 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

About FedEx Freight

FedEx Freight, Inc. is North America’s largest less-than-truckload (LTL) carrier, delivering industry-leading transit times, service levels, and reliability. FedEx Freight’s service offerings – including Priority, Economy, and Direct – allow customers to balance speed and cost to meet their unique needs. FedEx Custom Critical, a subsidiary of FedEx Freight, provides expedited, time- and temperature-specific freight solutions, including Surface Expedite and White Glove Services, available 24/7/365. With nearly 30,000 vehicles and 39,000 dedicated team members to support its unmatched network of approximately 355 service centers, we ensure freight arrives safely, securely, and on time across all 50 U.S. states, Canada, Mexico, Puerto Rico, and the U.S. Virgin Islands. After the spin-off, FedEx Freight will operate as an independent company, leveraging operational efficiency, data-driven technology, and a focused sales organization to provide outstanding service. For more information, visit fedex.com/about.

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act (the “PSLRA”), such as statements regarding the planned separation of FedEx Freight into a new publicly traded company (the “FedEx Freight Spin-Off”), business strategies, management’s views with respect to future events and financial performance, and the assumptions underlying such statements. Forward-looking statements include those preceded by, followed by or that include the words “will,” “may,” “could,” “would,” “should,” “believes,” “expects,” “forecasts,” “anticipates,” “plans,” “estimates,” “targets,” “projects,” “intends” or similar expressions. Such forward-looking statements, which are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the PSLRA as well as other legal protections, are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, FedEx’s ability to satisfy required closing conditions and successfully implement the FedEx Freight Spin-Off and achieve the anticipated benefits of such transaction and other factors which can be found in FedEx’s and its subsidiaries’ press releases and FedEx’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended May 31, 2025 and subsequent Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made. FedEx does not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts

Media contact:

Caitlin Maier

901-434-8100

mediarelations@fedex.com

Investor Relations Contact:

Jeni Hollander

901-818-7200

ir@fedex.com