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FedEx Founder’s Son to Take Reins at Courier’s Express Unit

  • Richard Smith to take over FedEx’s largest unit in September
  • Company says COO Subramaniam remains designated CEO successor
Richard Smith

Richard Smith

Photographer: Samuel Corum/The New York Times/Bloomberg

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FedEx Corp. said Richard W. Smith, son of founder and Chief Executive Officer Fred Smith, will take over leadership of the FedEx Express division later this year, boosting speculation the younger Smith may be in line eventually for the company’s top job.

Richard W. Smith will succeed Donald F. Colleran, 66, who is retiring after an almost 40-year career at FedEx, the Memphis-based company said Thursday in a statement. Smith, 44, currently regional president of the Americas and executive vice president of global support, will become president and CEO-elect of FedEx Express on April 1 before assuming full duties on Sept. 1.