FedEx Archives: 1999 Press Releases
( BW)(TN-FDX)(FDX) FedEx CEO Theodore L. Weise to Retire, COO
David J. Bronczek to Succeed Weise
MEMPHIS, Tenn.--(BUSINESS WIRE)--Oct. 11, 1999--FDX Corp.
(NYSE:FDX), parent company of Federal Express Corp., announced today
that Theodore L. "Ted" Weise plans to retire as president and chief
executive officer ("CEO") of Federal Express Corp. at the end of
January 2000. David J. Bronczek, current FedEx executive vice
president and chief operating officer, will succeed Weise as president
"Ted has been at my side since the very beginning, consistently
providing invaluable counsel and strong leadership in numerous
capacities. His commitment to excellence, his integrity and unwavering
focus on customers have served this company well," said FDX Chief
Executive Officer Frederick W. Smith.
Weise, who served in a number of senior management positions,
succeeded Smith as CEO of FedEx in January 1998 after serving as
executive vice president of worldwide operations. An airline transport
pilot and former senior vice president of air operations, Weise will
continue to serve on the FedEx operating company board and as a
consultant to the air operations division after his retirement from
"After the formation of FDX nearly two years ago, I was asked to
take charge of FedEx. During this transition, FedEx service levels
have been at an all time high, morale is strong and the global network
is more formidable than ever.
"Few men or women have enjoyed the privilege, as I have, of
joining a struggling start-up and helping it become one of the premier
companies in the world. I am proud to have worked with a visionary
like Fred Smith and have thoroughly enjoyed being associated with so
many wonderful and innovative people in my nearly 28 years with FedEx.
Moving forward, I am excited to continue helping FedEx grow in my new
role," said Weise.
As COO, Bronczek, a 23-year veteran of FedEx, currently oversees
the company's global operations and is also responsible for its sales,
e-commerce and customer service divisions. Bronczek had previously
served in various managerial positions both in the U.S. and abroad. He
was senior vice president of Europe, Middle East and Africa between
1993 and 1998 where he expanded FedEx's service offerings,
strengthened the regional network, and improved profitability. Prior
to that, he was in charge of all business operations in Canada.
Weise said, "I am pleased that we have such an outstanding leader
like Dave to take over the helm of FedEx and am confident that we will
have a smooth transition."
Smith said, "Dave Bronczek brings considerable international
experience, strong business acumen and creative strategic thinking to
the CEO position. I have utmost confidence in his ability to lead this
organization to even greater achievements."
Federal Express, a subsidiary of FDX Corp., connects more than
90% of the world's economic activity in 24-48 hours with door-to-door,
customs-cleared service and a money-back guarantee. The company's
unmatched air route authorities and infrastructure make it the world's
largest express transportation company, providing fast, reliable and
time-definite transportation of more than 3.1 million items to 210
countries each working day. FedEx employs more than 148,000 employees
and has more than 44,400 drop-off locations, 643 aircraft and 43,500
vehicles in its integrated global network. The company maintains
electronic connections with more than 1.9 million customers via FedEx
Powership(R), FedEx Ship(R) and FedEx interNetShip(R). Federal Express
reported revenues of $14.0 billion for its fiscal year ended
May 31, 1999.
FDX Corp., a $17 billion holding company, provides comprehensive
transportation, logistics, e-commerce and supply chain management
solutions. Its principal operating subsidiaries are Federal Express
Corp., the world's largest express transportation company; RPS Inc.,
North America's second largest business-to-business ground
small-package carrier; Viking Freight Inc., a less-than-truckload
carrier operating principally in the western U.S.; Roberts Express
Inc., a critical-shipment carrier; and FDX Logistics Inc., a contract
NOTE TO EDITORS: FDX Corp. press releases are available on the
World Wide Web at http://www.fdxcorp.com.
CONTACT: FDX Corp., Memphis
Bill Margaritis, 901/395-3490
KEYWORD: TENNESSEE INTERNATIONAL CANADA
INDUSTRY KEYWORD: TRANSPORTATION AIRLINES MANAGEMENT CHANGES