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FedEx remains on track with the planned spinoff of its freight division into a new publicly traded company, executives said while discussing Q3 results.

Kraft Heinz CEO Steve Cahillane surprised investors last month when he announced he would instead invest $600 million on developing new products and lowering some prices. 

Nicolas Amaya will lead Kraft Heinz’s North American operations starting next week, replacing Pedro Navio, the company said in a statement

Kraft Heinz said Feb. 11 it's pausing its plans to split into two companies, with CEO Steve Cahillane saying  "many of our challenges are fixable and within our control.” 

Eaton on Jan. 26 announced it is pursuing a separation of its Vehicle and eMobility segments, as the electrical equipment maker looks to focus on high-growth businesses under new CEO Paulo Ruiz.

Kraft Heinz named a new CEO, with former Kellanova CEO Steve Cahillane set to take over from Carlos Abrams-Rivera on Jan. 1, ahead of the company's planned split into two separate food giants.

Following the breakup, one company will be made up of its Heinz Ketchup and other iconic condiments and boxed meals — a unit that currently generates $15.4 billion in sales.

The appointments will take effect after the separation of FedEx Freight from FedEx Corp., which the company expects to complete by June 2026.

Shares in companies that are spun off from existing firms tend to outperform the S&P 500 by an average of 10% over the subsequent 18-24 months, data compiled by Trivariate show.

Wall Street analysts offered overall positive initial reactions to the Dec. 19 news that FedEx Corp. plans to by 2026 spin off its LTL division into a separate, publicly traded company.