NEW YORK (TIP); Raj Subramaniam, an Indian Institute of Technology (IIT)-Mumbai graduate, is set to become President and CEO of FedEx with founder and CEO Fred Smith planning to step down from his leadership role.

Subramaniam, 56, currently President and Chief Operating Officer, will be promoted to President and CEO effective June 1 with Smith serving as Executive Chairman, one of the world’s largest express transportation companies announced Monday. “FedEx has changed the world by connecting people and possibilities for the last 50 years,” said Smith, 77, who founded the company with the current annual revenue of $90 billion, in 1973.

“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.” “Fred is a visionary leader and a legend of the business world,” said Subramaniam who joined the company in 1991. “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,” he said. “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.” In a letter to the employees, Smith noted Subramaniam has more than 30 years of experience in key global leadership roles across the FedEx portfolio of operating companies.

“When he served as Chief Marketing Officer, Raj developed many of the strategies that are in place today, and I am confident they will continue to drive outstanding results for our customers, team members, suppliers, communities, and shareholders,” he wrote.

“Raj is a brilliant and humble man with great empathy for our various constituencies especially our frontline team members and customers,” Smith wrote. “He is a gentleman of impeccable integrity and is a consummate team player. He has a wonderful family and a broad network of friends around the globe.

“Given his mix of experience, I can’t think of a better executive in the world to take on the role of CEO of FedEx. There is no doubt he is the right leader to take FedEx into a successful future,” he added.

“Raj is an accomplished and proven leader, and he has the full support of the Board,” said David P. Steiner, Chair of the Board’s Governance, Safety, and Public Policy Committee.

He has more than 30 years of global experience across strategy and operations and has led the company through a period of tremendous growth. I am confident that Raj will build on this foundation and take the company to even greater heights.”

As President and CEO-elect of FedEx Corporation, Subramaniam is responsible for providing strategic direction for all FedEx operating companies: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, FedEx Office, FedEx Logistics, and FedEx Dataworks.

Subramaniam was elected to the FedEx Board of Directors in 2020 and will maintain his seat on the Board. Prior to his role as President and Chief Operating Officer of FedEx Corp, Subramaniam was President and Chief Executive Officer of FedEx Express.

He also served as Executive Vice President and Chief Marketing and Communications Officer of FedEx Corp., where he was responsible for developing the corporate strategy. In addition, he served as the President of FedEx Express in Canada and in several other management and marketing roles throughout Asia and the US.

Originally from Trivandrum, India, Subramaniam earned a bachelor’s degree in chemical engineering from the Indian Institute of Technology (IIT), Mumbai. He earned a master’s degree in chemical engineering from Syracuse University, and a master’s degree in business administration from The University of Texas at Austin. Subramaniam serves on the board of directors of FedEx Corporation, First Horizon Corporation, the US Chamber of Commerce’s China Center Advisory Board, FIRST, US-India Strategic Partnership Forum, and the US-China Business Council. He is also a member of the International Trade Administration’s Advisory Committee on Supply Chain Competitiveness (ACSCC).