Cramer Praises FedEx CEO as Company Files June Freight Spin-Off
Jim Cramer praised FedEx CEO Raj Subramaniam for delivering 'extraordinary improvements in service while cutting out costs by billions of dollars' and highlighted an 'explosive' upcoming analyst meeting. FedEx filed a Form-10 registration for a June freight spin-off, positioning FedEx Freight as an independent business.
1. Jim Cramer Praise of CEO Raj Subramaniam
Jim Cramer lauded Raj Subramaniam for succeeding founder Fred Smith and driving significant service quality gains while cutting costs by billions of dollars. He described the improvements as 'extraordinary' and flagged an upcoming analyst meeting as potentially 'explosive' for FedEx shares.
2. FedEx Freight Spin-Off Registration
FedEx submitted a Form-10 registration statement to spin off its freight unit, FedEx Freight, as a standalone public company beginning in early June. The move is intended to create distinct operational profiles and could unlock shareholder value if FedEx Freight launches at a reasonable price.