FedEx Announces Planned Consolidation of Operating Companies

FedEx Corp. is announcing today at its DRIVE Investor Event that it will consolidate its operating companies into one organization, creating efficiencies that will enhance the company’s ability to meet the evolving needs of customers and ultimately build a stronger, more profitable enterprise.

This phased transition, with full implementation expected in June 2024, will ultimately bring FedEx Express, FedEx Ground, FedEx Services, and other FedEx operating companies into Federal Express Corporation, becoming a single company operating a unified, fully integrated air-ground network under the respected FedEx brand. FedEx Freight will continue to provide less-than-truckload freight transportation services as a stand-alone company under Federal Express Corporation. Raj Subramaniam will serve as President and CEO of the combined organization.

“Over the last 50 years, we built networks that have created a differentiated and unmatched portfolio of services,” said Raj Subramaniam, president and CEO, FedEx Corporation. “This organizational evolution reflects how we represent ourselves in the marketplace – focused on flexibility, efficiency, and intelligence. As one FedEx team, we are well positioned to execute on our mission to help customers compete and win with the world’s smartest logistics network.”
more at: http://investors.fedex.com/news-and-events/investor-news/investor-news-details/2023/FedEx-Announces-Planned-Consolidation-of-Operating-Companies/default.aspx

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