Oct 6 (Reuters) - FedEx ( FDX ) said on Monday it has

appointed former company executive Marshall Witt as the finance

chief of its freight trucking unit, effective October 15,

completing the leadership team for the division that is set to

spin off in June 2026.

The parcel carrier had announced the appointment of veteran

executive John Smith as CEO and insider Brad Martin as the

chairman of the less-than-truckload unit.

The appointment completes soon-to-be-independent FedEx

Freight's leadership lineup. Analysts have often said the

segment is undervalued within FedEx ( FDX ), despite its dominance in

the U.S. less-than-truckload market.

Witt previously served as CFO of technology company TD

Synnex ( SNX ) for 12 years, where he managed the 2020 spin-off

of Concentrix. Prior to that, he held various roles for over 15

years at FedEx ( FDX ), mainly within the freight finance unit.

The spin-off is part of FedEx's ( FDX ) broader effort to streamline

operations and sharpen focus on its core parcel and express

businesses.

FedEx Freight, which analysts at Citi say could be valued

between $30 billion and $35 billion, serves businesses across

the manufacturing and retail sectors.

The unit consolidates multiple shipments from different

customers headed to similar destinations onto a single truck,

and generated $8.89 billion in revenue in FY25.

FedEx Freight operates around 355 service centers and

employs roughly 40,000 people across North America, handling

nearly 90,000 shipments each day.