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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Fedex Corp | TG:FDX | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6.25 | 2.22% | 288.00 | 287.30 | 288.55 | 290.00 | 280.10 | 282.00 | 437 | 22:50:15 |
From Nov 2019 to Nov 2024
FedEx Corp. (FDX) said Tuesday that Douglas G. Duncan, the head of the company's less-than-truckload freight division, is retiring effective Feb. 28.
FedEx, which announced the move in a filing with the Securities and Exchange Commission, said a successor to Duncan as president and chief executive of FedEx Freight hasn't been appointed.
Less-than-truckload shippers consolidate cargo from multiple customers on single trucks. The less-than-truckload market has been hit hard amid the economic downturn, as shipping demand dried up and left an overcapacity of trucks chasing dwindling amounts of freight.
FedEx Freight posted a 27% drop in revenue in FedEx's fiscal first quarter ended Aug. 31, on a 14% decline in freight volume. Operating profit came in at $2 million, compared to $89 million in the year-ago period.
Still, the company noted last week that it recently has been seeing improving trends in the freight division as the economy showed signs of stabilizing.
-By Bob Sechler; Dow Jones Newswires; 512-394-0285; bob.sechler@dowjones.com
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