Fedex names new president, COO
Fedex Express CEO Raj Subramaniam has been appointed president and chief operating officer of Fedex, succeeding the retiring David Bronczek, the company announced Thursday.
The move will be effective March 1.
In Business
Subramaniam will remain president and CEO of Fedex Express and will also become co-president and CO-CEO of Fedex Services.
Fedex called Bronczek’s retirement his “personal decision” in a news release.
“Mr. Bronczek’s decision to retire did not involve any disagreement with Fedex on any matter relating to the company’s operations, policies or practices,” the company said in an SEC filing.
The abrupt leadership shuffle comes
Fedex Logistics incentives approved for Downtown move. 7A
weeks after Bronczek was elected to the company’s Board of Directors. Bronczek will also be retiring from the board.
“On behalf of the board and management team, we recognize Dave for his years of service to Fedex. Fedex has a deep bench of talent, and I am confident that the transition will be seamless,” said Fedex founder and CEO Fred Smith. “Raj has significant experience in many areas of our portfolio, which will be vital as he steps into this position.”
Subramaniam has been a fast riser through Fedex’s executive ranks, taking over as head of Fedex Express at the beginning of the year. Before that, he was Fedex’s executive vice president and chief marketing and communications officer.
Bronczek, 64, joined Fedex in 1976, beginning as an hourly employee on the front lines of pickup and delivery operations, according to the Memphis logistics giant. He was named Fedex Express president and CEO in 2000. In 2017, he was named president and COO of Fed Ex.
Bronczek will receive a cash payment of $2.51 million within a month after his retirement, according to the SEC filing.