FedEx Corp. (NYSE: FDX) has nominated Richard Smith — the son of company founder Fred Smith and a longtime executive at the logistics giant — to its board of directors, a move widely viewed as the beginning of a carefully planned succession path that could eventually see him take over as chief executive officer.
Chairman Brad Martin announced Smith’s nomination in a letter to shareholders on Wednesday. The election will be held at FedEx’s annual shareholder meeting on Sept. 29.
Richard Smith, 47, has spent two decades at FedEx and currently serves as chief operating officer for FedEx Express International and airline operations. Over the years, he has held a series of senior leadership roles, including president and CEO of Federal Express, regional president for The Americas, and head of FedEx Logistics. His ascent within the company has fueled speculation that he is being groomed to carry forward the legacy of his late father, Fred Smith, who founded FedEx in 1971 and remained executive chairman until his death in June.
Industry observers see the nomination as more than symbolic. Satish Jindel, president of ShipMatrix and a veteran parcel industry analyst with a history of accurately forecasting FedEx leadership moves, described the decision as the “first domino” in a succession plan. He noted that when Martin transitions in June 2026 to become chairman of a new publicly traded company spun off from FedEx Freight, current CEO Raj Subramaniam is expected to also assume the role of chairman of FedEx Corp. At that point, Richard Smith is likely to be elevated to president and COO of FedEx Express for the U.S. and Canada, replacing John Smith (no relation), who will become CEO of FedEx Freight.
“With freight separated and Richard gaining direct operating experience, the company is setting him up for a future CEO role,” Jindel told FreightWaves. “He has eight or nine months to show results in his current post, and within two to four years, he could move into the top job — just as his father did decades ago.”
Raj Subramaniam, 59, has been CEO of FedEx Corp. since June 2022, when Fred Smith stepped aside. The 12-year age gap between Subramaniam and Richard Smith gives the board ample time to manage a gradual transition, Jindel added.
The potential succession comes as FedEx continues to overhaul its operations to drive efficiency and integrate its Express and Ground networks into a unified system. Last year’s consolidation at the corporate level was one step in that process, with further integration under way. Maintaining the Smith family legacy at the helm has been an implicit priority, underscored during Fred Smith’s memorial service in Memphis earlier this month.
Financially, FedEx faces a challenging environment. The company’s fiscal 2025 revenue came in flat at $87.9 billion, with operating income slipping by $100 million to $6.1 billion. Shipping volumes have softened this year amid heightened U.S. tariffs and retaliatory trade measures abroad, adding further pressure on the company’s bottom line.
For many shareholders, however, the nomination of Richard Smith signals long-term stability and continuity of vision at a pivotal moment for FedEx — one that could ultimately return the company to family leadership while navigating global trade headwinds and industry transformation.
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