Another Indian breaks the corporate glass ceiling, and this time it is 56-year old Raj Subramaniam, an Indian-American who will now head FedEx Corp, the multinational courier delivery agent, as the Chief Executive Officer, from June 1. He will replace 77-year old Frederick.W. Smith, who is the current Chairman, CEO and founder of the company.
“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,” Smith said in a statement. Smith will now be the Executive Chairman and will focus on Governance of the board and other globally important issues like innovation, sustainability and also public policy.
The company employs 60,000 employees worldwide and Raj, who is from Thiruvananthapuram, India, will take over from the man who pioneered express delivery, five decades ago. Subramaniam earned his Bachelors in Chemical engineering from IIT, Mumbai along with a Master’s degree in the same domain from Syracuse University, New York as well as an MBA from the University of Texas.
He joined FedEx in 1991, and since then has served the company in many roles, the latest one being the President and CEO of FedEx Express, the world’s largest express transportation company. He was elected to the Board Of directors in 2020, and will keep his position on the Board even after assuming his CEO duties.
With many honours to his credit, like the IIT Bombay’s Distinguished Alumnus Award and Induction to the Hall Of fame at Fogelman College of Business & Economics and Memphis University, Raj Subramaniam proves to be a shining example of consistent hard work and ability to take responsibility.
While Twitter is abuzz with various congratulatory tweets, Raj Subramaniam said, “It is my honour and privilege to step into this role and build upon what he has created.”
Here are some of the most heart-warming congratulatory posts for him.
Always thrilled when a Thiruvananthapuram native triumphs! @FedEx names Raj Subramaniam as CEO, replacing founder Fred Smithhttps://t.co/0vNmVeT2pj One more major international firm headed by an Indian — & this time a former constituent. Congratulations Raj!
— Shashi Tharoor (@ShashiTharoor) March 29, 2022
Congrats to my friend, and fellow Kerala Indian-American, Raj Subramaniam, new @FedEx CEO, succeeding legendary founder Fred Smith. Congrats Raj!!! Super proud of you at the helm of an iconic company!https://t.co/159LVdTLRs
— Sanjay Poonen (@spoonen) March 29, 2022
Last year, FedEx had annual sales of $84 billion, and analysts expect revenue to increase to $94 billion this fiscal year. Raj Subramaniam is said to be under pressure from shareholders to reduce costs and lower expenditures. This will be one of his most important tasks on assuming the title. Here’s wishing him the best for all his future endeavors!
