new Delhi: American multinational courier delivery giant, FedEx, has appointed Indian American Raj Subramaniam as its new Chief Executive Officer (CEO), according to an announcement made by the company on Monday.
According to a PTI report, Subramaniam (56) will replace chairman and CEO Frederick W Smith, who will step down on June 1.
Smith will become the acting chairman of FedEx.
In a statement, Smith said, “As we look ahead, I have a great sense of satisfaction that a leader in Raj Subramaniam’s capacity will lead FedEx into a very successful future.”
In his new role, Smith said he looks forward to the board’s administration as well as focusing on issues of global importance, including sustainability, innovation and public policy.
Subramaniam said in a statement issued by FedEx, “Fred is a visionary leader and a legend in the business world. He founded one of the largest and most admired companies in the world, and it is my honor and privilege to have Stepped into this role and built on what he had created.”
Smith (77) launched FedEx in 1973, delivering smaller parcels and documents more quickly than the post office. The firm was headquartered in Tennessee and has 600,000 employees globally.
Subramaniam joined FedEx in 1991.
Reportedly, Subramaniam was elected to FedEx’s board of directors in 2020 and will retain his seat on the board, the company said.
Prior to taking over the role as President and Chief Operating Officer of FedEx, Subramaniam was the 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 corporate strategy.
In addition, he served as President of FedEx Express in Canada and in several other management and marketing roles throughout Asia and the Americas.
David Steiner, chairman of the board’s Governance, Security and Public Policy committee, said Subramaniam is an accomplished and proven leader. He has full support of the board. He has over 30 years of global experience in 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.