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FedEx Names Raj Subramaniam As CEO

FedEx Names Raj Subramaniam As CEO

Fedex Names Raj Subramaniam As CEO

FedEx has named Raj Subramaniam as its new president and chief executive.

According to a regulatory filing, founder Fred Smith has decided to step down and take on the role of executive chairman.

Subramaniam, who is currently president and COO, will assume his new role starting June 1, 2022, and his COO position will not be backfilled.

“FedEx has changed the world by connecting people and possibilities for the last 50 years,” said Smith in a company 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. 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 1965, Smith, a Yale University undergraduate at the time, wrote a term paper that invented a system specifically designed to accommodate time-sensitive shipments such as medicine, computer parts and electronics.

Later in 1973, Smith founded the company, Federal Express, based on the system mentioned in his term paper. Smith hired 389 employees and on its very first night, 14 small aircraft delivered 186 packages to 25 U.S. cities from Rochester, New York, to Miami, Florida.

“Fred is a visionary leader and a legend of the business world,” said Subramaniam. “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.”

Subramaniam’s appointment comes at a time when FedEx is facing extreme competition from rival UPS as the delivery company has made substantial efforts to sharpen up its operations. Just recently, UPS announced the expansion of its 2019 deal with Alphabet Inc.’s Google Cloud to receive increased network, storage and computing capacity.

Through the expansion, UPS will be able to analyze its data better, which is expected to surge as the delivery giant plans to put radio-frequency identification (RFID) chips on its packages.

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