Raj Subramaniam became FedEx’s second ever CEO in the company’s 53-year history when he replaced founder Fred Smith in June 2022. It was a difficult time to take the helm: after the exuberance of runaway online shopping during the pandemic, global demand had began to slow significantly. Subramaniam even warned of a worldwide recession in September of that year, causing his company’s stock to plummet. FedEx and its competitors are still adapting to a world without as much online shopping, and Subramaniam has had to make adjustments.