‘How did it catch you so off guard?’: Investors grill FedEx CEO after troubling quarter
The shipping giant announced earlier this month that its earnings for the first quarter of fiscal year 2023 were much lower than the company’s predictions.
Topic: Raj Subramaniam
RSSThere are 51 article(s) tagged Raj Subramaniam:
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September 2022
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FedEx shareholders overwhelmingly approve board, compensation for top execs
While FedEx stockholders presented four proposals of their own during the company’s annual meeting, each was rejected by more than 60% of voted shares.
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FedEx shareholders approve board of directors, executive compensation
Shareholders approved the company’s 15 nominees to the FedEx board of directors, including two who were named to the board following an agreement between FedEx and activist investor D. E. Shaw, and compensation for the company’s executive officers.
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Does FedEx’s poor quarter signal a global recession?
News from FedEx has left some wondering what the company’s cost-cutting measures could mean in Memphis. FedEx, the city’s largest employer, has around 30,000 employees here.
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FedEx closing offices, deferring hiring, reducing flights after weak quarter
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FedEx closing offices, deferring hiring, reducing flights after weak quarter
Citing adverse “macroeconomic trends,” FedEx CEO Raj Subramaniam announced a variety of cost-cutting initiatives, including reduction in flight frequencies and the closure of over 90 FedEx Office locations.
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August 2022
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Meet FedEx’s proposed board of directors
All of FedEx’s board members are up for election or reelection when the company’s shareholders have their annual meeting, scheduled this year for Monday, Sept. 19.
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July 2022
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FedEx’s Network 2.0 initiative a ‘fundamental’ shift in operations
At its most recent meeting of shareholders and analysts, the Memphis-based company announced it is no longer interested in keeping its networks separate. Instead, FedEx wants to benefit from their overlap.
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June 2022
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FedEx maps out strategy to increase earnings, operating income
New CEO Raj Subramaniam faces soaring inflation, increasing competition from Amazon and an activist investor demanding shakeups to the board, but plans to grow earnings per share by as much as 19% over the next three years, as well as increase operating income by as much as $4.5 billion.
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FedEx predicts sizable profit growth over next three years
The logistics giant announced Wednesday, June 29, its new “Deliver Today, Innovate for Tomorrow” strategy as investors and analysts gathered in Memphis for the company’s 2022 investor meeting.
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FedEx reports strong quarter as new CEO takes the reins
The Memphis-based company recorded $24.4 billion in revenue for its fourth quarter 2022, compared to $22.6 billion it reported in the same time period in 2021.
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Record FedEx stock jump had help from New York investor
D. E. Shaw & Co. is known for its activist investing, including its role in Exxon Mobil Corp.’s decision to add to its board and make $6 billion worth of cost savings changes.
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Filing reveals annual pay for Fred Smith, new FedEx CEO
An SEC filing reveals how much Raj Subramaniam and FedEx founder Fred Smith will earn in their new roles.
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FedEx names first chief customer officer
Brie Carere is a three-time winner of the FedEx Five Star Award, the company’s highest team member honor.
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FedEx adds new members to board, increases dividend by more than 50%
FedEx Corp. stock was up nearly 9% Tuesday after the company made the announcement.
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April 2022
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Bluff City Biz: Future of FedEx and Blue Oval City with Bo Allen
“It’s hard for me to believe that anyone has done more for Memphis than Fred Smith,” Bo Allen, First Horizon regional president for West Tennessee, Arkansas and North Mississippi, said.
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What’s next for FedEx?
FedEx stock was up nearly 5% Tuesday, March 30, following the announcement on Monday that Raj Subramaniam will succeed Frederick W. Smith as president and CEO.
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March 2022
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Raj Subramaniam to succeed Fred Smith as president and CEO of FedEx Corp.
FedEx announces the next president and CEO following founder Frederick W. Smith’s tenure.
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September 2020
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FedEx gives COVID figures, changes operating principles
FedEx Corp.’s new operating principles acknowledge the need for increasing collaboration among business units FedEx Express, FedEx Ground and FedEx Freight.
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August 2020
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FedEx leaders come up short on bonus targets
FedEx's top leaders didn't get bonuses for the first time in 11 years as company earnings and income lagged behind targets in fiscal 2020.
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January 2020
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Raj Subramaniam notches another title, FedEx Corp. director
President and chief operating officer Raj Subramaniam has been elected to the FedEx Corp. board.
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February 2019
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Bronczek departs FedEx, replaced by Subramaniam
David J. Bronczek has abruptly retired from FedEx Corp.'s No.2 spot, with Raj Subramaniam named to replace him effective March 1.
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FedEx outlines pay package for Raj Subramaniam
New FedEx Corp. president and chief operating officer Raj Subramaniam would earn $1.2 million in base salary and bonuses over the next year under a compensation package outlined Wednesday, Feb. 20.
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Discussion continues about front-office changes at FedEx
FedEx's series of high-level management changes are fueling speculation about the reasons and perhaps worrying investors and employees, but have the potential to bring fresh eyes to the organization.
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Is Raj Subramaniam ‘the guy’ at FedEx? Only time will tell
Selection of Raj Subramaniam for the No. 2 job at Memphis-based FedEx Corp. starting March 1 could put him in the driver's seat to eventually become CEO, some analysts believe.
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December 2018
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Raj Subramaniam to succeed David Cunningham as FedEx Express chief
FedEx Express gets a new chief Jan. 1, with a rising star in FedEx leadership taking over for a long-tenured executive who embodies the company’s wealth of home-grown talent.
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