Subramaniam is new FedEx Express CEO
FedEx Express President and CEO David Cunningham will retire at the end of 2018, the company announced Friday morning.
Raj Subramaniam, FedEx’s executive vice president and chief marketing and communications officer, will succeed Cunningham in leading the Memphisbased express transportation company.
Cunningham, 57, has been FedEx Express’ president and CEO since early 2017, taking over for David J. Bronczek, now FedEx president and chief operating officer. Under Cunningham’s leadership, Express announced its $1 billion investment to improve the Memphis hub. He also led TNT Express operations, the international courier FedEx acquired in a blockbuster $4.8 billion deal.
“Throughout David’s distinguished 36-year-career at FedEx, he has contributed to the growth of our company around the globe, and we wish him the best in his retirement,” Bronczek said in a statement.
Subramaniam, 52, has been with FedEx for more than 27 years, starting at the company’s marketing team in Memphis. He eventually became president of FedEx Express in Canada before moving back to the U.S. and serving in high-level marketing roles for the company. He was named to his current position in 2017.
“Raj’s global vision and broad experience make him uniquely qualified to lead our largest operating company,” Bronczek said. “We look forward to the continued growth of FedEx Express within our global portfolio as Raj takes on this critical role.”
A company bio touts Subramaniam’s “international leadership experience, keen business insights, and focus on globalization” for helping grow FedEx.
Subramaniam, who was born in Trivandrum, India, has been making the rounds in recent months discussing FedEx’s recent “What We Deliver By Delivering” ad campaign. Subramaniam said in an October blog post about the new advertising strategy that what FedEx delivers, not the amount it delivers, makes it special.
“When we deliver an e-commerce package just in time for the holidays, we’re actually delivering joy,” he said. “When we deliver relief supplies to victims of Hurricane Michael, we’re really delivering hope. When we connect a farmer in Afghanistan to customers in the global marketplace, we’re expanding what’s possible for him and his family. That’s what we mean (by) delivering possibilities.”
Cunningham’s retirement marks the
end of a decades-long career at FedEx that started at the Express World Hub in Memphis in 1982. Cunningham worked nights part time there while attending school at the University of Memphis, per his LinkedIn page.
But Cunningham didn’t stay in that role for long, as he climbed up the company’s ranks in divisions outside the U.S. In 1999, he became regional president of FedEx Express’ Asia Pacific division and held that role until 2015, when he moved up to COO and president, international, for FedEx Express.
FedEx Express has more than 235,000 employees globally, along with 675 aircraft and more than 85,000 vehicles. The company moves an average of 6 million packages daily.
With a reported $36.2 billion in revenue for fiscal year 2018, FedEx Express is aiming for profits to grow by $1.2 billion to $1.5 billion from fiscal year 2017 to fiscal year 2020.
By the end of January, Cunningham will receive severance payment of $1.78 million, per a FedEx SEC filing. He will be retiring just a few months after another high-level executive, FedEx Freight president and CEO Michael Ducker, retired from the company.
Brie Carere will succeed Subramaniam in his role. Carere, who has been with FedEx for more than 17 years, is currently senior vice president of global portfolio marketing for FedEx Services.
Max Garland covers FedEx, logistics and health care for The Commercial Appeal. Reach him at max.garland@ commercialappeal.com or 901-529-2651 and on Twitter @MaxGarlandTypes.