About FedEx

FedEx Archives: 2000 Press Releases

( BW)(TN-FEDEX)(FDX) FedEx Logistics CEO Joseph C. McCarty to Retire

    Business Editors

    MEMPHIS, Tenn.--(BUSINESS WIRE)--Nov. 30, 2000--FedEx Corp. (NYSE:FDX) today announced that Joseph C. McCarty, 56, President and Chief Executive Officer of FedEx Logistics, plans to retire on May 31, 2001, the end of FedEx's current fiscal year.
    "Joe has been an invaluable asset to FedEx as we have grown internationally and expanded into logistics services and he will be missed," said Frederick W. Smith, Chairman, President and CEO of FedEx. "He has been instrumental in FedEx's development and leaves behind a solid foundation."
    Since joining FedEx in 1983, McCarty has held a number of senior management positions, including his current position as President and CEO of FedEx Logistics. As the head of FedEx Logistics, McCarty implemented FedEx's current logistics strategy, which combines the best of asset-based and nonasset-based logistics services through the use of leading edge technology.
    Prior to his appointment as President of FedEx Logistics, McCarty served as a Senior Vice President of FedEx for seven years, including stints heading FedEx's Asia Pacific and Latin American operations. As Senior Vice President - Asia Pacific, McCarty oversaw the integration of Flying Tigers into the FedEx network, resulting in FedEx's current strong competitive position in Asia. As Senior Vice President - Latin America and Caribbean, McCarty initiated and developed FedEx's expansion into this growing market.
    McCarty joined FedEx in 1983 as Vice President - Legal, and served with the FedEx legal department for eight years, with primary responsibility for international legal matters. Prior to joining FedEx, McCarty was engaged in the private practice of law for 13 years.
    "My decision to leave FedEx is a difficult one," said McCarty. "I could not value more highly the opportunity I have been given to work with and learn from Fred Smith and the talented team he has assembled over the years. Playing a role in the growth and expansion of FedEx has really been an extraordinary experience."
    With annual revenues of $19 billion, FedEx Corp. is the premier global provider of transportation, logistics, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including FedEx Express, the world's largest express transportation company; FedEx Ground, North America's second largest provider of small-package ground delivery service; FedEx Logistics, an integrated logistics, technology and transportation-solutions company; FedEx Custom Critical, the world's largest provider of expedited, time-critical shipments; and FedEx Trade Networks, a provider of customs brokerage, consulting, information technology and trade facilitation solutions. More than 2.5 million customers are connected electronically through the FedEx information network and approximately two-thirds of its U.S. domestic transactions are now handled online.

    --30--SL/na*

    CONTACT: FedEx Corp., Memphis
             Shirlee M. Clark, 901/818-7463

    KEYWORD: TENNESSEE INTERNATIONAL ASIA PACIFIC
    INDUSTRY KEYWORD: AIRLINES TRANSPORTATION E-COMMERCE
MANAGEMENT CHANGES