FedEx CEO At 67 Has Industry Asking Who Follows Founder

Discussion in 'The Latest FedEx Headlines' started by cheryl, Jun 15, 2012.

  1. cheryl

    cheryl I started this. Staff Member

    FedEx CEO At 67 Has Industry Asking Who Follows Founder - Bloomberg

    Fred Smith has taken FedEx Corp. (FDX) from an idea in a college essay to the world’s biggest cargo airline over the past four decades. Now the company has to figure out how to plan for the founder’s eventual departure.

    Smith, who holds the titles of president, chief executive officer and chairman, has built FedEx to more than $39 billion in annual revenue and $27 billion in market value. It’s the largest company in the Standard & Poor’s 500 Industrials Index led by its founder, based on data compiled by Bloomberg.

    When the leadership shift does come, it won’t be risky, said Andrew Meister, an Appleton, Wisconsin-based analyst with Thrivent Financial for Lutherans, which holds FedEx shares. FedEx doesn’t need a turnaround CEO or “visionary, super- talented person” to fix past mistakes, he said.