Courier delivery giant FedEx Corp. has appointed Indian-American Raj Subramaniam as chief executive officer with effect from June 1, 2022.
Subramaniam, who is currently chief operating officer, would continue as president of the logistics company. He replaces Frederick W. Smith, chairman and CEO, who will step down from this position on June 1.
Smith will become executive chairman of the Memphis, Tennessee-headquartered courier company.
Smith and Subramaniam will both report directly to the board, and the chief operating officer position will not be backfilled, the company said in a statement.
As part of the transition, Subramaniam has been named president and CEO-elect of FedEx effective immediately.
Subramaniam was elected to the FedEx board of directors in 2020 and will maintain his seat on the board. Prior to his role as president and chief operating officer of FedEx, Subramaniam was president and CEO of FedEx Express, the conglomerate’s express transportation unit. 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 U.S. since he joined FedEx in 1991.
According to Subramaniam’s LinkedIn profile, he completed his chemical engineering degree from Indian Institute of Technology, Bombay in 1987 and then went on to pursue MS in chemical engineering from Syracuse University. Subramaniam also holds an MBA in Marketing and Finance from University of Austin, Texas.
“Fred is a visionary leader and a legend of the business world,” Subramaniam said. “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.”
Commenting on the transition, Smith said, “In my role as executive chairman, I look forward to focusing on Board governance as well as issues of global importance, including sustainability, innovation, and public policy.”
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.
“Raj is an accomplished and proven leader, and 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.”