A MESSAGE FROM OUR CHAIRMAN OF THE BOARD
To our stockholders,
This year marks a profound moment in the history of FedEx as we mourn the passing of our founder, Frederick W. Smith. On
behalf of the Board of Directors, I extend our deepest gratitude to Fred for his unmatched contribution and unwavering vision.
Fred was a pioneer who reshaped the world of logistics and global commerce. His relentless drive, bold thinking, and belief in the
power of people created a company that became an indispensable part of how the world connects. For over five decades,
Fred’s leadership guided FedEx through extraordinary growth and transformation. With the same courage and commitment he
brought to his military and public service, Fred built FedEx on a foundation of service — empowering team members, uplifting
communities, and reimagining how goods move across the globe.
As we honor Fred’s extraordinary legacy, we look forward with the same spirit he instilled in this company from day one. The
principles he lived by — innovation, integrity, and a deep commitment to people — will remain the foundation of everything we
do. We will carry that vision forward, with respect for the past and determination for the future.
In connection with our 2025 annual meeting of stockholders to be held on September 29, 2025, I am sharing how FedEx continues
to advance its strategic transformation. Guided by a strong commitment to ethics, integrity, and reliability, we uphold rigorous
governance practices that support long-term value creation and operational excellence.
In FY26, the Board of Directors will continue its oversight of key efforts that will keep moving FedEx forward. Key to this will be
the June 2026 planned separation of FedEx and FedEx Freight — creating two independent, publicly traded industry-leading
companies. Both companies will be positioned to pursue focused growth strategies to meet the distinct and evolving global parcel
and freight markets. This marks a bold and strategic step forward, one that will enable us to continue delivering value to our
stockholders. DRIVE, Network 2.0, Tricolor, digital innovations, and other key focus areas will ensure FedEx is poised for sustainable
growth and long-term competitiveness.
I extend my sincere congratulations to former FedEx director David Steiner on his appointment as the United States Postmaster
General. David’s strategic insight, steady guidance, and thoughtful contributions during his more than 15 years on our Board
of Directors have left a meaningful impact on FedEx.
Replacing David as Chair of the Governance, Safety, and Public Policy Committee is Susan Patricia Griffith. Following the
September annual meeting, Tricia will also serve as our Lead Independent Director. Her deep experience as President and CEO of
The Progressive Corporation brings thoughtful leadership, strategic clarity, and a strong commitment to innovation and
customer-focused values. Her steady judgment and collaborative spirit have made her a trusted voice on the FedEx Board of
Directors since 2018.
I am also pleased to announce that the Board has nominated Richard W. Smith for election as a director at the upcoming annual
meeting. Richard possesses extensive FedEx experience and will represent the legacy and values of his father and family on the
Board of Directors.
With the oversight of the Board of Directors, FY26 will be another year of extraordinary achievement as we continue this
transformative journey to create significant value for our customers, team members, stockholders, and communities. Inspired by
Fred’s values and the remarkable culture he created, this team will deliver a bright future for FedEx Corporation.
Sincerely,
R. Brad Martin
Chairman of the Board
FedEx Corporation