Another Indian has reached the top post at a billion-dollar company, with Raj Subramaniam becoming the President and CEO of FedEx, the US-based multinational transportation and courier delivery giant announced. Subramaniam, who was born in Thiruvananthapuram, will replace Frederick W Smith, chairman and CEO.
Smith founded FedEx in 1971, and over 50 years later, he will step down on June 1. He will now become Executive Chairman, the company announced late on Monday, March 28. "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,” Frederick Smith said.
Subramaniam said after the announcement, "As we continue to transform as a company and reimagine what's next, we will keep our people-service-profit philosophy at our core." The 54-year-old reportedly joined FedEx in 1991, and over two decades later, was elected to the Board of Directors in 2020. He will maintain his seat on the Board even after assuming his new role.
Prior to this, Subramaniam was President and CEO of FedEx Express, the world's largest express transportation company. 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 during his stint at FedEx. Subramaniam obtained his undergraduate degree from the Indian Institute of Technology, Bombay (IIT-B) in chemical engineering. He later did a Master’s programme in the same field from Syracuse University in New York, and also holds an MBA in Marketing and Finance from the University of Texas at Austin, according to The Indian Express.
"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," Raj Subramaniam said in a statement after news of his elevation.