New York: FedEx Corp, US-based transportation, e-commerce and services, announced that Raj Subramaniam, President and Chief Operating Officer, will be promoted to President and CEO effective June 1, 2022.  Frederick W. Smith, Chairman and Chief Executive Officer, will become Executive Chairman. 

Subramaniam was elected to the FedEx Board of Directors in 2020 and will maintain his seat on the Board. Before his role 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.

In addition, R. Brad Martin, Chair of the Board’s Audit Committee, is now non-executive Vice Chairman of the Board. As Vice Chairman of the Board, Martin is the Board’s designated successor to serve 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 Chief Operating Officer position will not be backfilled. As part of the transition, Subramaniam has been named President and CEO-elect of FedEx Corp. effective immediately.

“Fred is a visionary leader and a legend of the business world,” Subramaniam said. “He founded one of the world’s greatest and most admired companies, and it is my honor and privilege to step into this role and build upon what he has created. As we continue to transform as a company and reimagine what’s next, we will keep our people-service-profit philosophy at our core. I am immensely proud of our 600,000 team members around the world. Together we’ve set into motion ideas that have changed the world for the better, and together we will unlock new value for our people, customers, and shareholders.”