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FedEx Freight SVP Michael Lyons largely steered clear of his unit's upcoming spinoff during an interview Tuesday at a trucking conference in Salt Lake City.

Why it matters: The spinoff could reshape the industry, as FedEx Freight is the country's largest less-than-truckload carrier.

Inside the room: Unlike the other speakers at the SMC3 Connections conference, Lyons took no audience questions, as it was in a quiet period ahead of fiscal 2025 earnings Tuesday evening.

What he's saying: While he didn't provide an update, Lyons called FedEx Freight's spinoff announcement the most notable shift in LTL in the past year.

The shift is "really changing the overall look and feel of what FedEx is from an enterprise perspective," he said, adding that an independent FedEx Freight can focus its efforts, leadership and spending "solely on the direction and needs of where Freight is going."

Catch up quick: FedEx is following a similar playbook to that of XPO by shifting to a "pure-play" LTL operation from a conglomerate.

Zoom out: Large corporations have increasingly pursued spinoffs across industries in a bid to avoid trading at a conglomerate discount.

What they're doing: Lyons will continue overseeing FedEx Freight's strategy and Custom Critical, which hauls high-value, temperature-controlled shipments through the spinoff.

FedEx Freight SVP mostly sidesteps spinoff at trucking conference

The spinoff of the largest U.S. LTL carrier, expected by June 2026, is being closely watched for its potential to reshape the industry.

DC Velocity Senior Editor Victoria Kickham interviews FedEx Freight SVP Michael Lyons during the SMC3 Connections conference in Salt Lake City on Tuesday, June 24, 2025.

DC Velocity Senior Editor Victoria Kickham interviews FedEx Freight SVP Michael Lyons during the SMC3 Connections conference Tuesday in Salt Lake City. Photo: Colin Campbell/Axios

FedEx Freight SVP Michael Lyons largely steered clear of his unit&#x27;s upcoming spinoff during an interview Tuesday at a trucking conference in Salt Lake City.Why it matters: The spinoff could reshape the industry, as FedEx Freight is the country&#x27;s largest less-than-truckload carrier.

FedEx Freight SVP mostly sidesteps spinoff at trucking conference

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