FedEx Says Fred Smith to Step Aside as CEO, Remain Executive Chairman
President Raj Subramaniam, a company veteran, to take over as CEO in June, company says
Fred Smith, who appeared at a 2019 U.S. Chamber of Commerce event, will step aside as FedEx chief executive, the company says.PHOTO: ANNA MONEYMAKER/BLOOMBERG NEWS
By Paul Ziobro Follow
March 28, 2022 4:43 pm ET
FedEx Corp. FDX 1.54% founder Fred Smith is stepping down as chief executive of the company he started more than 50 years ago with a handful of planes and built into a global delivery network that moves millions of packages a day.
Mr. Smith, 77 years old, is handing the CEO role to president and chief operating officer Raj Subramaniam.
Mr. Smith, who is also chairman of the FedEx board, will transition to executive chairman on June 1, when the leadership change will take place.
Mr. Subramaniam, a company veteran of more than 30 years, is being named president and CEO-elect of the company immediately.
Fred Smith, who appeared at a 2019 U.S. Chamber of Commerce event, will step aside as FedEx chief executive, the company says.PHOTO: ANNA MONE
By Paul Ziobro Follow
March 28, 2022 4:43 pm ET
FedEx Corp. FDX 1.54% founder Fred Smith is stepping down as chief executive of the company he started more than 50 years ago with a handful of planes and built into a global delivery network that moves millions of packages a day.
Mr. Smith, 77 years old, is handing the CEO role to president and chief operating officer Raj Subramaniam.
Mr. Smith, who is also chairman of the FedEx board, will transition to executive chairman on June 1, when the leadership change will take place.
Mr. Subramaniam, a company veteran of more than 30 years, is being named president and CEO-elect of the company immediately.
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