Market Overview

FedEx Announces CFO Transition

Share:
FedEx Announces CFO Transition

FedEx Corp. (NYSE: FDX) announced that its financial chief, Alan Graf, will retire effective Dec. 31. Graff will relinquish CFO duties on Sept. 22 and remain with the company through year-end as executive vice president and senior adviser.

Retiring CFO Alan Graf – Image: FedEx

Current Corporate Vice President and Treasurer Mike Lenz has been named Graf's successor and will assume the CFO role in September.

Graf started with FedEx in 1980, becoming CFO of FedEx Express in 1991 and assuming the same role with parent company, FedEx Corp., in 1998.

Many large acquisitions occurred during Graf's tenure, including Caliber System, Viking Freight, American Freightways, Kinko's, Parcel Direct, Watkins Motor Lines, GENCO and TNT Express.

"In his 40 years at FedEx, Alan has helped build and transform this company. He has been part of every significant decision and helped navigate tremendous growth, strategic investments, international acquisitions and global challenges. FedEx would not be the $69 billion globally admired corporation we are today without his leadership," said FedEx Chairman and CEO Frederick W. Smith.

The press release stated that Lenz will become executive vice president and CFO-elect June 1.

Lenz joined the company in 2005 as vice president of finance in the brick-and-mortar printing and shipping unit, FedEx Office. In 2010, Lenz was promoted to staff vice president of strategic finance at FedEx Corp. Lenz was promoted to his current role in 2012.

"Mike's extensive experience in our industry and his financial background have proven him to be an asset to FedEx. I look forward to having Mike join the Executive Committee for the corporation as we continue driving the strategy for long-term growth and profitability," Smith said.

The company reports fiscal third-quarter 2020 earnings after the market closes on March 17.

Image by News room from Pixabay

 

Related Articles (FDX)

View Comments and Join the Discussion!

Posted-In: CFO fedex Freight FreightwavesEarnings News General