FedEx Corporation
Leadership History
3 leaders · 1971 to present
Raj Subramaniam is the CEO of FedEx, in the role since 2022. The first chief executive was Frederick W. Smith, from 1971.
| Name | Role | From | To | Years in role |
|---|---|---|---|---|
| R. Brad Martin | Executive Chairman and Chairman of the Board | 2025 | Present | 1 |
| Raj Subramaniam | President and Chief Executive Officer | 2022 | Present | 4 |
| Frederick W. Smith | Founder, Chief Executive Officer (1971-2022) and Executive Chairman (2022-2025) | 1971 | 2025 | 54 |
FedEx created the modern overnight delivery industry. Fred Smith launched Federal Express in 1971, and in April 1973 its small fleet of Dassault Falcon jets began flying packages through Memphis for next-morning delivery. Today FedEx Corp. operates the Federal Express network (air, ground, and international parcel), FedEx Office retail stores, FedEx Logistics, and FedEx Dataworks. Its shares trade on the NYSE as FDX and it is part of the S&P 500. The company is headquartered in Memphis, Tennessee.
Executive Chairman and Chairman of the Board
2025 – Present
1 year (current)
Martin navigated intense pressure from activist investor D.E. Shaw, orchestrating the massive 'DRIVE' restructuring program to consolidate FedEx Express and Ground.
As Chairman of the Board, he oversees the ongoing multi-billion dollar cost-cutting initiatives designed to close the operating margin gap with rival UPS.
President and Chief Executive Officer
2022 – Present
4 years (current)
Subramaniam, born in Kerala, India, holds engineering degrees from IIT and Syracuse University and a MBA from the University of Texas at Austin. He joined FedEx in 1991 as an associate marketing analyst and rose through roles including Vice President of Marketing for Asia-Pacific (1996-2003) and Executive Vice President of Marketing and Communications (2013-2019), before becoming CEO in 2022 -- only the second CEO in FedEx's history, succeeding founder Fred Smith. He has since driven the DRIVE cost-savings program and the Network 2.0 integration of FedEx Express and Ground delivery routes, alongside the planned separation of FedEx Freight into an independent company.
Under Subramaniam, FedEx revenue rose from $87.693 billion in FY2024 to $94.720 billion in FY2026, the company merged its operating companies into Federal Express, rolled out Network 2.0, and completed the June 2026 FedEx Freight spin-off.
Founder, Chief Executive Officer (1971-2022) and Executive Chairman (2022-2025)
1971 – 2025
54 years
Smith literally saved the company in 1973 by famously taking the company's last $5,000 to Las Vegas and winning $27,000 playing blackjack to cover fuel costs.
He invented the modern overnight express delivery industry, building FedEx from a Yale University term paper into a massive global logistics empire before retiring as CEO in 2022.
FedEx is managing a costly network integration, trade-policy and tariff shifts that hit international volumes, the loss of the U.S. Postal Service air contract (which expired in September 2024), weak industrial demand, and rising purchased-transportation and wage costs. UPS, DHL, Amazon Logistics, postal operators, and regional carriers all compete for the same parcel volume.
Frederick W. Smith founded Federal Express in 1971 and was CEO until 2022, then executive chairman until his death in June 2025. He created the hub-and-spoke overnight express model.
While an undergraduate at Yale University in 1965, Fred Smith wrote an economics term paper proposing an integrated airfreight system where planes carried packages through a central clearinghouse hub at night. While his professor reportedly gave the paper an average grade, that concept became the blueprint for FedEx.
Raj Subramaniam became president and CEO on June 1, 2022. He joined FedEx in 1991 and held roles including president and CEO of FedEx Express and chief marketing officer before becoming CEO.
Subramaniam launched the DRIVE cost program, merged FedEx Express, Ground, and Services into Federal Express Corporation under one FedEx, began Network 2.0, and completed the FedEx Freight spin-off in June 2026.
After Fred Smith died on June 21, 2025, the board elected longtime director R. Brad Martin as chairman. Martin became executive chairman in September 2025.
Fred Smith established the 'People-Service-Profit' (P-S-P) philosophy: if FedEx takes care of its People, they will deliver impeccable Service to customers, which will naturally generate corporate Profit, which is reinvested back into people and growth.
Raj Subramaniam serves as CEO. He took over in 2022 after the legendary Fred Smith stepped down. Smith ran the company for an unprecedented 50 years, transforming it from a tiny startup with 14 planes into a massive global empire before transitioning to Executive Chairman.
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