FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith

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Smith will transition to the role of executive chairman, overseeing sustainability, innovation, public policy and other global issues, FedEx said.

Subramaniam joined FedEx in 1991 and is currently the company’s chief operating officer. He takes the helm as the company faces mounting competition from historical rival United Parcel Service (NYSE:UPS) and former customer Amazon.com (NASDAQ:AMZN).