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FedEx’s board of directors on May 13 approved the spinoff of its less-than-truckload business, FedEx Freight.
The move is another step in the process, announced in December 2024, to make the carrier a standalone company. As a result of the separation, FedEx Freight shares will begin trading on the New York Stock Exchange on June 1 under the symbol “FDXF,” per the release.
While the carrier’s spinoff marks a beginning and has some resemblance to a start-up business, FedEx Freight is by no means a new LTL segment player, according to industry experts.
For one, FedEx Freight will retain its name for the next few years, a company spokesperson said in an email to Trucking Dive. The company has a trademark agreement with FedEx to use the brand for the next five to 10 years.
