Raj Subramaniam, an Indian Institute of Technology (IIT)-Mumbai alumnus, is slated to take over as President and CEO of FedEx, with founder and CEO Fred Smith stepping down.
Raj Subramaniam, 56, who is now President and Chief Operating Officer, will be promoted to President and CEO on June 1st, with Smith acting as Executive Chairman, one of the world’s major express transportation businesses said Monday.
“For the previous 50 years, FedEx has revolutionised the world by linking people and possibilities,” said Smith, 77, who started the firm with a current annual sales of $90 billion in 1973.
“As we look ahead, I have a great deal of confidence that a leader of Raj Subramaniam’s quality can lead FedEx into a very prosperous future.”
“Fred is a visionary leader and a corporate icon,” said Subramaniam, who joined the firm in 1991. “He founded one of the world’s best and most renowned organisations, and it is an honour and privilege for me to step into this role and build on what he has established.”
“As we continue to develop as a company and rethink what’s next,” he continued, “we will preserve our people-service-profit mindset at the centre.” “I am very pleased of our 600,000 team members worldwide.”
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