FedEx Nominates Richard Smith to Board, Paving Way for Succession to CEO Role

Richard Smith, son of FedEx founder Fred Smith, has been nominated to the company's board of directors. He is currently COO for FedEx Express International and airline operations. This move is seen as a succession plan for Smith to become CEO, with current CEO Raj Subramaniam set to become chairman in 2026. Smith's nomination is the first domino in a potential plan for him to take over as CEO.

Richard Smith, son of the late FedEx founder Fred Smith, has been nominated to the company's board of directors. Currently serving as the chief operating officer for FedEx Express International and airline operations, this move is seen as a strategic step in the company's succession planning [1]. The nomination sets the stage for Richard Smith to potentially follow in his father's footsteps as CEO.

The nomination was announced by FedEx Corp. Chairman Brad Martin in a letter to stockholders, with the company's annual shareholder meeting scheduled for September 29. Richard Smith, 47, began his career at FedEx 20 years ago and has held several high-level executive positions, including president and CEO of Federal Express, regional president for The Americas, and head of FedEx Logistics [1]. Satish Jindel, a parcel industry veteran and president of ShipMatrix, believes this nomination is the first domino in a succession plan for Richard Smith to become CEO [1].

Under this scenario, when current CEO Raj Subramaniam leaves FedEx Express in June 2026 to become chairman of a new publicly traded company created by the planned spin-off of FedEx Freight, Richard Smith will become president and chief operating officer of FedEx Express for the U.S. and Canada. This move is intended to allow Richard Smith to produce results in his current position and eventually take over as CEO [1].

FedEx's revenue in fiscal year 2025 remained flat year over year at $87.9 billion, with operating income dipping $100 million to $6.1 billion. The company has seen volumes soften this year due to the proliferation of U.S. tariffs and retaliation by other countries [1]. The nomination of Richard Smith to the board is seen as a way to uphold the Smith family legacy within the company's upper echelons [2].

The nomination of Richard Smith to FedEx's board of directors is a significant step in the company's succession planning. It reflects the company's commitment to continuity and the Smith family's deep-seated connection with the Memphis community. The nomination also signifies a bolstering of Richard Smith's voice in company decisions, potentially influencing the future trajectory of FedEx [2].

References:
[1] https://finance.yahoo.com/news/richard-smith-nominated-fedex-board-165810549.html
[2] https://hoodline.com/2025/08/richard-smith-nominated-to-fedex-board-of-directors-poised-to-uphold-family-legacy-in-memphis/