FedEx FreightÆs Duncan offers resignation
Doug Duncan will retire as chief executive officer of FedEx Freight on Feb. 28, FedEx Corp. said in a notice Tuesday to the Securities and Exchange Commission.
No successor has been named, it said.
Duncan has spent 12 years at FedEx building up its trucking division to become one of the nation's largest less-than-truckload carriers. He joined the integrated logistics company through the acquisition of Viking Freight, a large western region carrier he headed that was later merged with American Freightways to form FedEx Freight. The company's non-union status has helped it compete against the likes of YRC Worldwide and Roadway Express.
In 2006, FedEx Freight acquired Watkins Motor Lines to expand into long-haul LTL service. The division is now called FedEx National.
Duncan did not divulge reasons for his pending departure in an e-mail to employees obtained by AmericanShipper.com, only saying the decision was difficult but that the timing was right.
'The LTL market is still challenging, but I believe the freight recession is reaching an end ' We are starting to see sequential growth and have good momentum in business development,' he said, adding that systems, processes and a strong executive team are in place for a smooth transition.
Duncan also oversees FedEx Custom Critical, the corporation's time-sensitive, white-glove shipping service, and Caribbean Transportation Services, an air freight forwarder serving the U.S.-Puerto Rico lane.
A 33-year transportation industry veteran, Duncan has held management positions at the former Caliber Systems and Roadway Express.
He serves on the executive committee of the American Trucking Associations and as chairman of the American Transportation Research Institute, the ATA's research arm.
Duncan said in his e-mail that he plans to spend time relaxing with his family and work for several companies at the board level.