FedEx (FDX) Founder Fred Smith Steps Aside as Raj Subramaniam Named CEO By Investing.com

March 28, 2022 admin Stock News 0


© Reuters. FedEx (FDX) Founder Fred Smith Steps Aside as Raj Subramaniam Named CEO

FedEx Corp. (NYSE:) announced Frederick W. Smith, founder, Chairman, and CEO of the company, will become Executive Chairman, and Raj Subramaniam, President and COO will be promoted to President and CEO, effective June 1, 2022.

Before his current role, Subramaniam, who joined FedEx in 1991, was President and CEO of FedEx Express. He also served as Executive Vice President and Chief Marketing and Communications Officer of FedEx Corp.

Smith praised Subramaniam as a high-caliber leader and said he would lead the company “into a very successful future.”

Shares of FedEx rose 3% after-hours following the news.

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