Summary
FedEx Corporation (FDX) has filed an 8-K/A amendment to report on the separation of Sriram Krishnasamy, formerly Executive Vice President — Chief Digital and Information Officer and Chief Transformation Officer. The departure was mutually agreed upon following the successful completion of key initiatives, including achieving the $4 billion DRIVE structural cost reduction target and establishing foundations for digital transformation with FedEx Dataworks. Mr. Krishnasamy will serve as an Executive Advisor to assist with the transition until his final day on October 31, 2025, or an earlier mutually agreed date. In connection with his separation, Mr. Krishnasamy will receive a cash payment of $3,272,711, representing 24 months of base pay plus 150% of his fiscal 2025 annual incentive target. His base salary will continue through the separation date. Importantly, he will not receive future incentive plan payments but will benefit from accelerated vesting of his outstanding equity awards. The agreement includes standard provisions such as confidentiality, non-compete, non-solicitation, and mutual non-disparagement, and any breach by Mr. Krishnasamy could lead to repayment obligations.
Key Highlights
- 1Sriram Krishnasamy, EVP and Chief Digital and Information Officer, is departing FedEx.
- 2The departure is amicable, following the successful completion of key strategic initiatives like the $4 billion DRIVE cost reduction target.
- 3Mr. Krishnasamy will transition through an Executive Advisor role until October 31, 2025.
- 4A separation payment of $3,272,711 will be made to Mr. Krishnasamy.
- 5This payment is equivalent to 24 months of base pay plus 150% of his fiscal 2025 annual incentive target.
- 6Future annual and long-term incentive payments are forfeited, but outstanding equity awards will vest accelerated.
- 7The separation agreement includes non-compete, non-solicitation, and mutual non-disparagement clauses.