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Richard Smith nominated to FedEx board, opening succession path to CEO

Late founder’s son heads international and airline operations for FedEx Express

Eric Kulisch
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FedEx Corp. had revenue of $88 billion in fiscal year 2025. It has nominated Richard Smith, who runs international and airline operations, to the board of directors. (Photo: Shutterstock/JHVEPhoto)
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Key Takeaways:

  • Richard Smith, son of FedEx founder Fred Smith, has been nominated to FedEx's board of directors, seen as a step towards him becoming CEO.
  • This succession plan would involve Raj Subramaniam becoming chairman, and Richard Smith eventually taking over as CEO of FedEx Express, following a period as president and COO.
  • Industry experts believe this plan ensures Fred Smith's legacy continues within the company.
  • The move comes as FedEx integrates its Ground and Express networks and faces challenges like softening volumes and US tariffs.
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Richard Smith, an executive at FedEx and son of the company’s late founder, Fred Smith, has been nominated for the company’s board of directors, setting the stage for Richard to follow in his father’s footsteps as CEO. 

FedEx Corp. (NYSE: FDX) Chairman Brad Martin announced Richard Smith’s nomination in a letter to stockholders. The company will hold its annual shareholder’s meeting on Sept. 29. 

Richard Smith, 47, is currently chief operating officer for FedEx Express International and airline operations. He began his career at FedEx 20 years ago. He has held several high-level executive positions, including president and chief executive officer of Federal Express, regional president The Americas, and head of FedEx Logistics. 

Satish Jindel, a parcel industry veteran and president of ShipMatrix, said he believes the nomination is the first domino in a succession plan for Richard Smith to become CEO. 

Under his scenario, when Martin leaves FedEx Express in June 2026, as previously announced, to be chairman of a new publicly traded company created by the planned spin-off of FedEx Freight, current CEO Raj Subramaniam will also become chairman. 

At the same time, Richard Smith will become president and chief operating officer of FedEx Express for the U.S. and Canada, replacing John Smith (unrelated), who has been named to be CEO of FedEx Freight, the nation’s largest less-than-truckload carrier.

“With freight gone and Richard having operating experience, he is being groomed” to eventually lead the company, Jindel told FreightWaves. “He’s got eight or nine months to produce some results in his current position, and once he’s head of FedEx Express in two, three, or four years, he can become CEO like his father was.” 

Subramaniam, 59, has been CEO of FedEx Corp. since June 2022. He took over from Fred Smith, who stayed on as executive chairman until his death in June. 

Jindel has a track record of making correct predictions about FedEx. After John Smith was installed as head of FedEx Ground in early 2021, Jindel predicted that Richard Smith would be named CEO of FedEx Express. When Richard Smith took the job in March 2022, Jindel posted online that Subramaniam would become CEO and that Fred Smith would become executive chairman. 

“There’s a 12-year gap” between Richard Smith and Subramaniam. “So there’s plenty of time for Raj to stay as CEO and for Richard to become the chief operating officer and president,  produce good results, and then move into that position,” said Jindel. 

“This allows for Fred’s legacy to continue,” which was the stated intention of many speakers at his ceremony celebrating his life on Aug. 11 at the FedEx Forum in Memphis, Tennessee, said Jindel.

FedEx last year merged FedEx Ground into FedEx Express at the corporate level and is now in the process of integrating the two networks into a single, unified system to achieve greater efficiency. 

FedEx’s revenue in fiscal year 2025, ended June 30, remained flat year over year at $87.9 billion. Operating income dipped $100 million to $6.1 billion. The company has seen volumes soften this year with the proliferation of U.S. tariffs and retaliation by other countries.

Click here for more FreightWaves/American Shipper stories by Eric Kulisch.

Write to Eric Kulisch at ekulisch@freightwaves.com.

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Eric Kulisch

Eric is the Parcel and Air Cargo Editor at FreightWaves. An award-winning business journalist with extensive experience covering the logistics sector, Eric spent nearly two years as the Washington, D.C., correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility, fuel economy and safety. He has won two regional Gold Medals and a Silver Medal from the American Society of Business Publication Editors for government and trade coverage, and news analysis. He was voted best for feature writing and commentary in the Trade/Newsletter category by the D.C. Chapter of the Society of Professional Journalists. He was runner up for News Journalist and Supply Chain Journalist of the Year in the Seahorse Freight Association's 2024 journalism award competition. In December 2022, Eric was voted runner up for Air Cargo Journalist. He won the group's Environmental Journalist of the Year award in 2014 and was the 2013 Supply Chain Journalist of the Year. As associate editor at American Shipper Magazine for more than a decade, he wrote about trade, freight transportation and supply chains. He has appeared on Marketplace, ABC News and National Public Radio to talk about logistics issues in the news. Eric is based in Vancouver, Washington. He can be reached for comments and tips at ekulisch@freightwaves.com Eric is the Parcel and Air Cargo Editor at FreightWaves. An award-winning business journalist with extensive experience covering the logistics sector, Eric spent nearly two years as the Washington, D.C., correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility, fuel economy and safety. He has won two regional Gold Medals and a Silver Medal from the American Society of Business Publication Editors for government and trade coverage, and news analysis. He was voted best for feature writing and commentary in the Trade/Newsletter category by the D.C. Chapter of the Society of Professional Journalists. He was runner up for News Journalist and Supply Chain Journalist of the Year in the Seahorse Freight Association's 2024 journalism award competition. In December 2022, Eric was voted runner up for Air Cargo Journalist. He won the group's Environmental Journalist of the Year award in 2014 and was the 2013 Supply Chain Journalist of the Year. As associate editor at American Shipper Magazine for more than a decade, he wrote about trade, freight transportation and supply chains. He has appeared on Marketplace, ABC News and National Public Radio to talk about logistics issues in the news. Eric is based in Vancouver, Washington. He can be reached for comments and tips at ekulisch@freightwaves.com Eric is based in Vancouver, Washington. He can be reached for comments and tips at ekulisch@freightwaves.com