Who is Raj Subramaniam, new FedEx CEO after Fred Smith, the founder

FedEx Corp. announced Monday that Raj Subramaniam will serve as both CEO and president replacing founder Fred Smith. Subramaniam is currently the company’s president and chief operating officer.

Smith, who started FedEx in 1971, will become executive chairman, the package-delivery company said. From a modest operation in Tennessee, FedEx turned into a global company with nearly 570,000 employees.

Also Read | US Stock Market: DJIA, S&P500, Nasdaq and Russell rose 1% on Friday

The company said that the transition will take place on June 1, with Smith, 77, leaving his position after 50 years.

“FedEx has changed the world by connecting people and possibilities for the last 50 years,” 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 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.”

Who is Raj Subramaniam?

The Indian-born was elected to the FedEx Board of Directors in 2020.  Before his role as president and COO, Subramaniam was President and Chief Executive Officer of FedEx Express – the world’s largest express transportation company.

The 54-year-old also served as Executive Vice President and Chief Marketing and Communications Officer of FedEx Corp., where he handled developing the corporate strategy.

Also Read | GameStop, Moderna and other stocks making biggest moves premarket

He has also been on the role of President of FedEx Express in Canada and in several other management and marketing roles throughout Asia and the US since he joined FedEx in 1991.

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