San Francisco: One more US-based multinational is getting an Indian origin American as boss. Raj Subramaniam has become the President and CEO of FedEx, the US-based multinational transportation and courier delivery giant has announced.
Subramanian takes the mantle from Frederick W. Smith, chairman and CEO, who founded the company 50 years ago; he will step down on June 1.
"As we continue to transform as a company and reimagine what's next, we will keep our people-service-profit philosophy at our core," said Subramaniam.
Smith will become Executive Chairman, the company announced late on Monday.
"As we look toward what's next, I have a great sense of satisfaction that a leader of the calibre of Raj Subramaniam will take FedEx into a very successful future" outgoing chairman Smith said.
"In my role as Executive Chairman, I look forward to focusing on Board governance as well as issues of global importance, including sustainability, innovation, and public policy," he said in a statement.
Subramaniam was elected to the FedEx Board of Directors in 2020 and will maintain his seat on the Board.
Prior to this, he 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 since he joined FedEx in 1991.
"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," Subramaniam said.
Hailing from Thiruvananthapuram, Kerala, he went to IIT Bombay in 1987 to study chemical engineering and later earned a master's degree in the same field from Syracuse University in 1989. He also holds an MBA degree in Marketing and Finance from the University of Texas at Austin.
The company website says that Subramaniam has more than 30 years of industry experience at FedEx. "His international leadership experience, keen business insights, and focus on globalization have contributed to the success of FedEx and provide a blueprint as the company revolutionizes the transportation and logistics industry," it says.