FedEx Corp. is elevating Raj Subramaniam to the position of president and chief operating officer in the wake of the departure of David Bronczek, who the company said is making a “personal decision” to retire.
Subramaniam, a 27-year veteran of FedEx, already serves as president and CEO of FedEx Express, and will also add duties as co-president and co-CEO of FedEx Services, a role also previously held by Bronczek.
Subramaniam’s appointment to his new corporate-level post will take effect March 1, FedEx said in a Feb. 14 press release.
“FedEx has a deep bench of talent, and I am confident that the transition will be seamless,” FedEx Corp. Chairman and CEO Fred Smith said in the release. “Raj has significant experience in many areas of our portfolio, which will be vital as he steps into this position.”
The change comes less than one month after the company’s Jan. 28 announcement that Bronczek had joined the FedEx board of directors. He has held the corporate-level COO post since 2017. He joined the company in 1976, the year he graduated from college, FedEx said in the announcement of his election to the board.
“On behalf of the board and management team, we recognize Dave for his years of service to FedEx,” Smith said in the Feb. 14 release.
According to Bloomberg News, Bronczek will leave Feb. 28 under a deal that includes a five-year agreement not to work for FedEx competitors such as UPS Inc., Deutsche Post AG’s DHL unit or Amazon.com. His retirement also did not involve disagreement with FedEx on matters relating to operations, policies or practices, Bloomberg News said, citing a FedEx regulatory filing.