8-KLeadership Changes

FEDEX CORP 8-K Report, Executive Changes (Nov 3, 2009)

Filed November 3, 2009For Securities:FDX

Summary

FedEx Corporation (FDX) announced a significant leadership transition within its FedEx Freight subsidiary via an 8-K filing. Effective March 1, 2010, William J. Logue will assume the role of President and Chief Executive Officer of FedEx Freight, succeeding Douglas G. Duncan, who is retiring. Mr. Logue brings extensive experience from his current role as Executive Vice President and Chief Operating Officer — U.S. of FedEx Express and has a long tenure within the FedEx organization, dating back to 1989. This leadership change is presented as a planned succession, with Mr. Logue transitioning into his new role starting December 1, 2009, as President of FedEx Freight, while Mr. Duncan continues as CEO during this period. Investors can expect Mr. Logue to be compensated under existing executive compensation programs for non-CEO officers, indicating a continuation of established pay structures. The filing also confirms no reportable related-party transactions involving Mr. Logue.

Key Highlights

  • 1William J. Logue appointed President and CEO of FedEx Freight, effective March 1, 2010.
  • 2Douglas G. Duncan, current President and CEO of FedEx Freight, will retire.
  • 3A transitional period begins December 1, 2009, with Logue as President and Duncan as CEO of FedEx Freight.
  • 4William J. Logue has a long history with FedEx, starting in 1989 and currently serves as EVP and COO of FedEx Express.
  • 5Logue's compensation will align with existing programs for FedEx's non-CEO executive officers.
  • 6No reportable related-party transactions involving William J. Logue were disclosed.

Frequently Asked Questions

William J. Logue has been appointed as the new President and Chief Executive Officer of FedEx Freight, effective March 1, 2010.

The official transition of leadership, with William J. Logue assuming the President and CEO roles, will occur on March 1, 2010. A transitional period will begin on December 1, 2009.

William J. Logue has a significant history with FedEx, joining in 1989. He currently holds the position of Executive Vice President and Chief Operating Officer — U.S. of FedEx Express and has held various senior operational and management roles within FedEx Express since 1999.

Mr. Logue will be compensated in accordance with previously disclosed compensation programs for FedEx's non-CEO executive officers.