FedEx is expanding the business unit led by its founder’s son by consolidating specialty logistics and e-commerce solutions within FedEx Trade Networks.
The expanded FedEx Trade Networks will include a new company, FedEx Forward Depots, responsible for critical inventory and service parts logistics, 3-D printing, repair center and the FedEx Packaging Lab.
Effective March 1, FedEx Trade Networks, the freight forwarding and customs clearance arm of FedEx, also will incorporate FedEx CrossBorder; FedEx Trade Networks Transport and Brokerage; FedEx Custom Critical, previously a unit of FedEx Freight; and FedEx Supply Chain, previously part of FedEx Ground.
FedEx said in a release that the changes will result in an organization “focused on serving the unique needs of this important growth driver.”
Richard Smith became president and CEO of FedEx Trade Networks last July, a promotion seen as movement toward top leadership at the company founded by his father, Frederick Smith. Richard Smith also is chairman of the Greater Memphis Chamber.
David Bronczek, president and chief operating officer of FedEx Corp., said, “In order to improve our ability to leverage the unique capabilities of our specialty companies, we are realigning several companies in a new organizational structure under FedEx Trade Networks, led by FTN CEO Richard Smith.”
“Richard brings a strong background in working with the unique capabilities that have existed in many parts of the FedEx portfolio for several years and is well suited to lead this new organization that will bring these solutions to customers more seamlessly than ever.”
Richard Smith said, “This realignment under FedEx Trade Networks will allow us to offer customers the full power of our wide array of unique and competitively advantaged customized services in a way that is even more convenient and intuitive.”
“I am delighted to lead this organization of talented FedEx team members in delivering to customers the power of the broad FedEx global portfolio,” he said.