Summary
FedEx Corporation (FDX) has filed an 8-K report announcing a key executive transition within its Information Services division. Robert B. Carter, currently Executive Vice President, FedEx Information Services and Chief Information Officer, will be stepping down from his CIO role effective June 30, 2024, and will fully retire from the company on December 31, 2024. He will transition to an Executive Vice President and Senior Advisor role from July 1, 2024, until his retirement, with no changes to his compensation during this period. Concurrently, Sriram Krishnasamy has been appointed as Executive Vice President - Chief Digital and Information Officer-Elect and Chief Transformation Officer, effective March 11, 2024, and will assume the full CIO and Chief Transformation Officer roles on July 1, 2024. Mr. Krishnasamy will also continue to lead FedEx Dataworks. This report also details amendments to the company's bylaws, granting broader authority to certain officers for electing and removing other officers, excluding those defined under SEC Rule 16a-1(f).
Key Highlights
- 1Robert B. Carter, EVP, CIO, is retiring effective December 31, 2024, after a transition period as Senior Advisor.
- 2Carter will step down as CIO on June 30, 2024, with no compensation changes related to his retirement.
- 3Sriram Krishnasamy appointed as EVP - Chief Digital and Information Officer-Elect and Chief Transformation Officer, effective March 11, 2024.
- 4Krishnasamy will assume full CIO and Chief Transformation Officer roles on July 1, 2024.
- 5Krishnasamy will continue to lead FedEx Dataworks in his new capacities.
- 6FedEx's Board approved amendments to the company bylaws, enhancing officer appointment authority for non-16a-1(f) officers.
- 7The bylaw amendments are part of a periodic corporate governance review.