- FedEx Corp FDX has promoted its President and Chief Operating Officer (COO), Raj Subramaniam, to Chief Executive Officer (CEO) and President, effective June 1, 2022.
- The company's Chairman and CEO, Frederick W. Smith, will become Executive Chairman, effective the same date.
- Subramaniam has been named President and CEO-elect of FedEx, effective immediately. Subramaniam, who was elected to the FedEx Board in 2020, will maintain his seat on the Board.
- Smith and Subramaniam will both report directly to the Board, and the COO position will not be backfilled.
- Subramaniam joined FedEx in 1991 and has served in many executive roles over the years, including CEO of FedEx Express.
- Price Action: FDX shares closed higher by 1.54% at $230.05 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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