Category: Fred Smith

FedEx Corp. Founder Fred Smith Will Step Down as CEO in June

March 29, 2022
Business & EconomyCEOCompaniesfedexfounderFred Smithstep down
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FedEx Corp. said Monday that Fred Smith will step down on June 1 as CEO of the package-delivery company that he founded and be succeeded by the company’s president and chief operating officer. Raj Subramaniam will serve as both CEO and president and Smith will become executive chairman, the package-delivery company said. Smith, 77, started…

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FedEx Investors Approve CEO Pay, Proposals on Lobbying and ‘Golden Parachutes’

September 28, 2021
Business & EconomyCompaniesfedexFred Smithlabor union
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NEW YORK—FedEx Corp investors approved billionaire Chief Executive Fred Smith’s $54 million pay plan on Monday at the delivery company’s annual meeting, but rebuffed the corporate board’s recommendations on shareholder proposals on lobbying and outsized executive severance packages. Investors approved by more than 50 percent non-binding proposals for more disclosures on the company’s lobbying and…

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Norway Sovereign Wealth Fund Backs FedEx CEO Pay

September 22, 2021
Business & EconomyCEOCompaniesEuropefedexFred SmithNorwaysovereign wealth fundUSUS NewsWorld
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OSLO—Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, said on Wednesday it will support FedEx CEO Fred Smith’s $54 million pay package at a meeting of the logistics company’s shareholders next week. The pay of the billionaire chief executive has been challenged by a labour union over the company’s decision to cancel a bonus…

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FedEx Faces Labor Union Challenge Over Billionaire CEO’s Pay

September 4, 2021
Business & EconomyCEOchallengeCompaniesfedexFred SmithlaborunionUSUS News
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FedEx Corp shareholders should reject founder and CEO Fred Smith’s $54 million pay package because the logistics company gave him stock options after scrapping a cash bonus in the wake of the COVID-19 pandemic, only to reinstate it later, the Teamsters labor union said on Friday. Smith, whose net worth is pegged by Forbes at…

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