FedEx names former Atlas Air CEO to be its next CFO

Investing.com -- FedEx Corporation (NYSE: FDX) shares dipped after the logistics giant named John Dietrich as chief financial officer, starting Aug. 1.

Dietrich is a former CEO of cargo airline Atlas Air Worldwide (NASDAQ: AAWW). His appointment comes amid other shifts in FedEx’s finance group to help advance its ongoing transformation, the company said.

FedEx shares dipped 1% on Monday but are up 47% so far this year.

Dietrich is succeeding Michael C. Lenz, who previously announced plans to leave and who will transition out of his role on July 31. Lenz will stay as senior advisor until the end of the year.

FedEx CEO Raj Subramaniam said Dietrich “is an accomplished and seasoned leader in the transportation industry whose unique combination of financial and operational expertise is a strong complement to the existing executive leadership team at this important time for the company.”

Dietrich held numerous leadership roles at Atlas Air Worldwide since 1999, including CEO. He has more than 30 years of experience in the aviation and air cargo industries, FedEx said.

You May Also Be Interested In

• Morgan Stanley sees a buying opportunity in this data center stock
• Farm equipment maker seen topping forecasts as commodity trends improve
• This name is "a later-cycle beneficiary of the AI spending cycle": Goldman