FedEx Appoints New Chief Operating Officer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 21h ago
0mins
Source: Businesswire
- Executive Appointment: FedEx announced the appointment of Scott Ray as Chief Operating Officer for U.S. and Canada Surface Operations effective June 1, succeeding John Smith, who will become CEO of FedEx Freight, indicating a strategic shift in upper management.
- Extensive Experience: With 39 years at FedEx, Scott Ray has served as President of Surface Operations and led multiple transformation efforts, including the 2010 consolidation of Ground and Home Delivery networks, showcasing his deep operational management background.
- Strategic Execution: Ray will oversee Surface Operations in the U.S. and Canada, ensuring the safe and reliable delivery of millions of packages daily while effectively executing strategic initiatives like Network 2.0, aimed at enhancing operational efficiency and customer satisfaction.
- Leadership Team Integration: The leadership team of Surface Operations will report directly to Ray, with no plans to backfill the President of Surface Operations position, reflecting the company's focus on streamlined and efficient leadership structure.
Analyst Views on FDX
Wall Street analysts forecast FDX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FDX is 315.05 USD with a low forecast of 210.00 USD and a high forecast of 365.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
13 Buy
6 Hold
1 Sell
Moderate Buy
Current: 304.470
Low
210.00
Averages
315.05
High
365.00
Current: 304.470
Low
210.00
Averages
315.05
High
365.00
About FDX
FedEx Corporation provides customers and businesses with a portfolio of transportation, e-commerce, and business services. The Company offers integrated business solutions utilizing its flexible and efficient global network. Its segments include Federal Express, FedEx Freight, and Corporate, other, and eliminations. Federal Express segment includes express transportation, small-package ground delivery, and freight transportation, and it also operates combined sales, marketing, administrative, and information-technology functions in shared service operations for United States customers. FedEx Freight segment includes FedEx Freight (LTL freight transportation) and FedEx Custom Critical (time-critical transportation). Corporate, other, and elimination segments include FedEx Dataworks, Inc. (FedEx Dataworks), FedEx Office and Print Services, Inc. (FedEx Office), and FedEx Logistics, Inc. (FedEx Logistics). FedEx Logistics offers customs brokerage, specialty transportation, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
