Business

FedEx Appoints Indian American Raj Subramaniam as New Chief Executive Officer

Subramanian would replace Frederick W Smith, chairman, and CEO, who will step down from this position on June 1.

US multinational courier delivery giant, FedEx, has appointed Indian American Raj Subramaniam its new chief executive officer (CEO), according to an announcement made by the company on Monday.

According to a report by the PTI, Subramanian (56) would replace Frederick W Smith, chairman, and CEO, who will step down from this position on June 1.

Smith will become FedEx’s executive chairman.

In a statement, Smith said, “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.”

In his new role, Smith said he looks forward to focusing on Board governance as well as issues of global importance, including sustainability, innovation, and public policy.

Subramaniam in a statement issued by FedEx said, “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.”

Smith (77), launched FedEx in 1973, delivering small parcels and documents more quickly than the post office could. The firm was headquartered out of Tennessee and has 600,000 employees globally.

Subramaniam joined FedEx in 1991.

According to the report, Subramaniam was elected to the FedEx Board of Directors in 2020 and will maintain his seat on the Board, the company said.

Before assuming the role as president and chief operating officer of FedEx, Subramaniam was president and CEO of FedEx Express, the world’s largest express transportation firm. He also served as executive vice-president and chief marketing and communications officer of FedEx, where he was responsible for developing the corporate strategy.

In addition, he served as the president of FedEx Express in Canada and in several other management and marketing roles throughout Asia and the US.

David Steiner, chair of the Board’s Governance, Safety, and Public Policy Committee, said Subramaniam is an accomplished and proven leader. He has the full support of the Board. He has more than 30 years of global experience across strategy and operations 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,” Steiner said.