Raj Subramaniam becomes President and CEO of FedEx Corporation; Frederick W Smith becomes Executive Chairman
March 28, 2022
MEMPHIS, Tenn. (March 28, 2022) – FedEx Corp. (NYSE: FDX) today announced that Frederick W. Smith, Chairman and Chief Executive Officer, will become Executive Chairman, effective June 1, 2022, and Raj Subramaniam, President and Chief Operating Officer, will be promoted to President and CEO.
Frederick W Smith
In addition, R. Brad Martin, Chair of the Board’s Audit Committee, is now non-executive Vice Chair of the Board. As Vice Chairman of the Board, Martin is the Board’s designated successor as Chairman of the Board. David P. Steiner, Chair of the Board’s Governance, Safety, and Public Policy Committee, will continue to serve as Lead Independent Director. Smith and Subramaniam will both report directly to the board and the position of chief operating officer will not be filled. As part of the transition, Subramaniam has been appointed President and CEO-elect of FedEx Corp. effective immediately. appointed.
“FedEx has changed the world by connecting people and opportunities for the past 50 years,” said Smith. “As we look to the future, I am very pleased that a leader of Raj Subramaniam’s caliber will lead FedEx into a very successful future. In my role as Executive Chairman, I look forward to focusing on board governance and issues of global concern, including sustainability, innovation and public policy.”
“When Fred Smith founded FedEx, he turned conventional thinking on its head and created an industry. In his role as Executive Chairman, he will focus on the key issues, policies and innovations that will continue to move FedEx and the world forward,” said Steiner. “Raj is an accomplished and proven leader and he has the full support of the Board. He has over 30 years of global strategy and operations experience and has led the company through a period of tremendous growth. I am confident that Raj will build on this foundation and take the company to even greater heights.”
Raj Subramaniam
Subramaniam was elected to the FedEx board of directors in 2020 and will retain his seat on the board. Before serving as President and Chief Operating Officer of FedEx Corp. Subramaniam was President and Chief Executive Officer of FedEx Express, the world’s largest express transportation company. He was also Executive Vice President and Chief Marketing and Communications Officer of FedEx Corp., where he was responsible for developing corporate strategy. Additionally, since joining FedEx in 1991, he has served as President of FedEx Express in Canada and in several other management and marketing roles throughout Asia and the United States.
“Fred is a visionary leader and a legend in the business world,” said Subramaniam. “He founded one of the largest and most admired companies in the world and I am honored and privileged to take on this role and build on what he created. As we continue to transform as a company and rethink what’s next, we will maintain our people-service-profit philosophy at our core. I am very proud of our 600,000 team members around the world. Together we launched ideas that changed the world for the better, and together we will unlock new value for our employees, customers and shareholders.”