Donald F. Colleran, a 40-year veteran of Memphis-based FedEx Corp. who has been president and CEO of FedEx Express since 2019, will retire on Dec. 31, 2022, the company has announced.
He will be replaced by Richard W. Smith, who currently serves as regional president of the Americas and executive vice president of global support. He is the son of FedEx founder, chairman and CEO Fred Smith.
Colleran joined FedEx in 1989 when the company acquired Flying Tigers. He worked in a variety of international sales and management positions for 12 years, working from Tokyo, Hong Kong and Toronto, where he served as president of FedEx Express Canada. He was promoted from senior vice president of international sales to executive vice president and chief sales officer for FedEx Corp. in 2017.
“From launching new capabilities for our customers to leading our global FedEx Express team during some of the most challenging times, including the COVID-19 pandemic, Don has been instrumental in creating and executing our remarkable global growth strategy,” Raj Subramaniam, president and chief operating officer of FedEx Corp., said in a release. “Throughout his career, he has demonstrated an unwavering commitment to our customers and our team members. I have a deep respect for Don and the profound difference he has made during his tenure at FedEx, especially as a steadfast champion of our world-renowned culture … Don leaves a legacy of mentorship and building an incredible team of leaders who are poised to take the Express business to the next level.”
Richard Smith will become president and CEO-elect of FedEx Express on April 1 and will assume full duties of the executive position on Sept. 1.
FedEx Express is the largest business unit of the delivery giant, accounting for $42.1 billion or 50 percent of all revenue in fiscal year 2021 that ended on May 31, 2021. FedEx Ground accounted for $30.5 billion in fiscal 2021, or 36.3 percent of all revenue.
Colleran will remain as CEO executive adviser at Express through December.
Richard Smith previously served as president and CEO of FedEx Logistics and has held several leadership positions, including vice president of global trade services.
“Richard has a deep understanding of our business and has played a pivotal role in many of our most important initiatives, including our electric vehicle strategy and our life-saving vaccine distribution efforts to combat the COVID-19 pandemic,” Subramaniam said. “With the outstanding executive management team we have in place to execute our strategy, including leaders like Richard, I am confident in the future of FedEx.”