Indian-American Raj Subramaniam to head FedEx as CEO Frederick Smith to step down

Multinational transport conglomerate FedEx Corp. will appoint Indian-American Raj Subramaniam as the new CEO after founder Frederick W. Smith is stepping down. Subramaniam, who was the Chief Operating Officer, will ascend to his duties as President as well. Smith, who founded the company in 1971, will finally cease his services on June 1, after 50 years of running the company. Smith will transition to the role of executive chairman, the package-delivery company said in a statement. 

"As we look toward what's next, I have a great sense of satisfaction that a leader of the caliber of Raj Subramaniam will take FedEx into a very successful future," the departing CEO, Smith, said in a statement.

77-year-old Smith now looks forward to focusing on Board of Governance as well global matters, including sustainability and innovation while Subramaniam will step into the role to "build upon" what Smith had created about 50 years ago. "Fred is a visionary leader and a legend of the business world. He founded one of the world's greatest and most admired companies, and it is my honour and privilege to step into this role and build upon what he has created," Mr. Subramaniam said in a statement issued by FedEx.

Who is Raj Subramaniam?

Indian-American by origin, Raj Subramaniam served the position of COO before he was formally appointed as CEO on Monday. The executive was elected to the FedEx Board of Directors in 2020. Prior to his inclusion in the corporation's BOD, he was the president and CEO of FedEx Express, the swiftest transportation company. Since the inception of his journey with FedEx in 1991, the 54-year-old also served as Executive Vice President and Chief Marketing and Communications Officer of FedEx Corp. He was accountable for business and corporate strategy development in that role. He has also served as president of the company in Canada's FedEx Express and pulled several other management and marketing roles throughout Asia and the US.

"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," Subramaniam said in a statement, quoted by FedEx.

An accomplished and proven leader, Subramaniam has gained complete support of the FedEx Board, David Steiner, chair of the Board's Governance and Safety and Public Policy Committee said.

Headquartered in Memphis, Tennessee, FedEx grew into a multinational company from a humble start. Currently, it has a global employee count of 5,70,000. The company primarily focuses on transportation and e-commerce. It has subsidiaries such as TNT Express, FedEx Express, FedEx Ground, and more.

(Image: @FedExCorp/Twitter)