FedEx, the US-based multinational transportation and courier delivery giant has announced the appointment of Indian-American Raj Subramaniam as President and CEO.

Subramanian would succeed Frederick W. Smith, who will step down as chairman and CEO on June 1.

“As we continue to transform as a company and reimagine what’s next,” Subramaniam said, “we will keep our people-service-profit philosophy at our core.”

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Smith will take over as Executive Chairman, the business said late Monday.

“As we look toward what`s next, I have a great sense of satisfaction that a leader of the calibre 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,” he said in a statement.

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Subramaniam was elected to the FedEx Board of Directors in 2020 and will serve on the Board indefinitely.

He formerly served as President and CEO of FedEx Express, the world’s biggest express shipping firm.

Since joining FedEx in 1991, he has also served as President of FedEx Express in Canada, as well as in various other management and marketing roles in Asia and the United States.

“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,” said Subramaniam.

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FedEx Corporation, headquartered in Memphis, Tennessee, is an American global conglomerate holding corporation focusing on transportation, e-commerce, and services. FedEx’s dominance in the United States and across the world has made it a prominent topic in popular culture, with examples including the film Cast Away and some of its marketing slogans.