There are 13 article(s) tagged Mike Lenz:

• July 2023

  • FedEx names new CFO and EVP, announces shifts in its finance team

    The Memphis-based company announced Monday, July 17, its hiring of John W. Dietrich to the role, which will be vacated by CFO Michael C. Lenz on July 31.

    Related story:

    New FedEx CFO will earn an annual salary of $919,000

    By Rob Moore July 17, 2023

• May 2023

  • FedEx launches platform to help customers track CO2e emissions

    The Sustainability Insights tool is designed to assist FedEx in its goal of reaching carbon neutral operations by 2040. 

    By Rob Moore May 28, 2023

• April 2023

  • FedEx at 50: As FedEx hits milestone, new executive team has new challenges

    The executive leadership team at FedEx — guided by CEO Raj Subramaniam — will have to demonstrate to its stockholders that it is the right team to lead the company out of turbulent waters and into the future. 

    By Rob Moore April 11, 2023

• February 2023

  • How FedEx is cutting costs by more than $3 billion

    FedEx confirmed during the company’s December 2022 earnings release that it will try to cut costs by more than $3 billion throughout the fiscal year. 

    By Rob Moore February 06, 2023

  • FedEx to lay off 10% of officer and director teams

    Following two back-to-back quarters that saw FedEx report earnings well below company expectations, the shipping giant has been enacting sweeping cost-cutting initiatives.

    By Rob Moore February 01, 2023

• December 2022

  • FedEx plans additional cost cuts

    FedEx has identified an additional $1 billion in cost savings beyond its September forecast and now expects to generate savings of $3.7 billion.

    By Rob Moore December 20, 2022

  • Will FedEx report another weak quarter?

    Tuesday’s earnings call is expected to focus on how effective the company’s sweeping cost-cutting initiatives announced in September have been so far.

    By Rob Moore December 19, 2022

• November 2022

  • FedEx begins reducing flight frequencies following poor quarter

    FedEx will focus first on parking its older planes, an action that will also defer costly maintenance events, company executives anticipate. 

    By Rob Moore November 14, 2022

• September 2022

  • FedEx announces $2 billion in cost-cutting measures, rate increases

    In 2023, FedEx hopes to generate total cost savings of $2.2 to 2.7 billion, and the Memphis-based company plans increase some of its rates. 

    By Rob Moore September 23, 2022

  • ‘How did it catch you so off guard?’: Investors grill FedEx CEO after troubling quarter

    The shipping giant announced earlier this month that its earnings for the first quarter of fiscal year 2023 were much lower than the company’s predictions. 

    By Rob Moore September 23, 2022

• August 2022

  • FedEx wrapping up fleet modernization, buying more planes

    As of May 31, FedEx Express had $1.3 billion in deposits and progress payments on aircraft purchases, including 46 Boeings it plans to buy by 2025. 

    By Rob Moore August 25, 2022

• August 2020

  • FedEx’s Alan Graf: Lessons learned from COVID-19

    Alan Graf talks COVID-19, e-commerce's rise, postal reform, Amazon and presidential politics as he winds down 41-year career at Memphis-based delivery giant.

    By Wayne Risher August 26, 2020

• March 2020

  • ‘Strategic thinker’ Alan Graf bowing out of FedEx inner circle

    Mike Lenz will have to develop relationships with analysts and investors who have been comfortable dealing with Alan Graf for a long time. 

    By Wayne Risher March 16, 2020