San Francisco, Mar 29 (IANS): Indian-American Raj Subramaniam has become the President and CEO of FedEx, the US-based multinational transportation and courier delivery giant has announced.

Subramanian would replace Frederick W. Smith, chairman and CEO, who will step down on June 1.

"As we continue to transform as a company and reimagine what's next, we will keep our people-service-profit philosophy at our core," said Subramaniam.

Smith will become Executive Chairman, the company announced late on Monday.

"As we look toward what's next, I have a great sense of satisfaction that a leader of the caliber of Raj Subramaniam will take FedEx into a very successful future.

"In my role as Executive Chairman, I look forward to focusing on Board governance as well as issues of global importance, including sustainability, innovation, and public policy," he said in a statement.

Subramaniam was elected to the FedEx Board of Directors in 2020 and will maintain his seat on the Board.

Prior to this, he was President and CEO of FedEx Express, the world's largest express transportation company.

In addition, he served as the President of FedEx Express in Canada and in several other management and marketing roles throughout Asia and the US since he joined FedEx in 1991.

"I am immensely proud of our 600,000 team members around the world. Together we've set into motion ideas that have changed the world for the better, and together we will unlock new value for our people, customers, and shareholders," Subramaniam said.