Fedex announces Lenz as new CFO
Will succeed Graf, who is retiring
Fedex corporate vice president and treasurer Mike Lenz will become the Memphis-based company’s chief financial officer, succeeding Alan Graf, Fedex announced Monday.
Lenz will be appointed executive vice president on June 1 and CFO on Sept. 22. He started with Fedex Office in 2005 as vice president of finance. Before working with Fedex, Lenz held finance and commercial positions at American Airlines.
“Mike’s extensive experience in our industry and his financial background have proven him to be an asset to Fedex,” Fred Smith, Fedex chairman and
CEO, said in a statement. “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.”
Graf, 66, will remain an executive vice president and senior adviser through the end of the year to help the transition. He is the latest among Fedex’s executive ranks to retire. Former Fedex Express CEO David Cunningham retired at the end of 2018 and former president and COO Dave
Bronczek retired in March 2019.
“In his 40 years at Fedex, Alan has helped build and transform this company,” Smith said. “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.”
Graf has been with Fedex since 1980, serving as CFO of Fedex Express beginning in 1991 and CFO of Fedex Corp. beginning in 1998. The CFO is responsible for all of Fedex’s financial functions.
Lenz will have a new annual base salary of $625,000 beginning June 1, according to an SEC filing. He will also receive a $100,000 promotional bonus, it said.
Lenz will be succeeded in his current position by Bert Nappier, who is currently Fedex’s regional president of Europe and TNT Express CEO. Karen Reddington, Fedex Express regional president of the Asia Pacific region, will assume Nappier’s position. Kawal Preet, Fedex Express senior vice president of North and South Pacific operations, will succeed Reddington, the company said.
“Karen and Kawal have demonstrated results-oriented leadership throughout their careers and have worked closely with our Fedex Express CEO Don Colleran for many years,” said Fedex COO Raj Subramaniam. “I appreciate their many contributions and am confident they will continue to deliver outstanding results in their new roles with Fedex Express.”
Max Garland covers Fedex, logistics and health care for The Commercial Appeal. Reach him at max.garland@ commercialappeal.com or 901-529-2651 and on Twitter @Maxgarlandtypes.
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