Fedex Corp Stock Price, News & Analysis

FedEx Corp. (NYSE: FDX) has promoted Brie Carere to the newly created position of Chief Customer Officer and co-President/co-CEO of FedEx Services. This change aims to enhance the customer experience by aligning strategy, sales, and marketing under one leadership. Carere, who has extensive experience in marketing since joining FedEx in 2001, will focus on innovative, end-to-end customer solutions. FedEx, with an annual revenue of $92 billion, emphasizes a customer-centric approach and aims for carbon-neutral operations by 2040.

FedEx Corporation (NYSE: FDX) announced significant corporate advancements aimed at enhancing shareholder value. The Board of Directors declared a quarterly dividend of $1.15 per share, a notable increase of 53% from the previous dividend of $0.75, effective July 11, 2022. Additionally, they revamped the executive compensation program by adding a total shareholder return (TSR) metric to ensure management accountability. The company appointed Amy B. Lane and Jim Vena as independent directors in alignment with a cooperation agreement with the D. E. Shaw group, further bolstering governance and oversight.

Aurora Innovation and FedEx have expanded their collaboration by launching a new commercial route in Texas, now autonomously transporting shipments from Fort Worth to El Paso. This extension of their pilot program, started in September 2021, showcases the efficiency of Aurora's autonomous trucks, which have delivered 100% of shipments on time. With 60,000 miles completed and zero safety incidents, Aurora aims to increase trip frequency while addressing industry challenges like labor shortages and demand for quick deliveries.

eBay and FedEx have announced a new integration allowing Canadian e-commerce sellers to access FedEx shipping services directly through eBay Labels. This partnership enhances the shipping experience, providing sellers with seamless, cost-effective solutions at preferential rates. The initiative is geared towards meeting the growing e-commerce demand, with FedEx projecting significant shipping volume increases. This move aims to improve the selling experience for thousands of Canadian sellers by simplifying shipping processes and providing better fulfillment options.

FedEx Corp. (NYSE: FDX) announced the winners of its tenth annual Small Business Grant Contest, recognizing ten businesses with significant cash awards and services. This year's grand prize of $50,000 and $4,000 in FedEx services went to three businesses: Kulture Khazana, Niche Snowboards, and Terra Beauty. Additionally, first-place winners received $20,000 and $1,500 in services. In total, the contest received a record of nearly 18,000 entries and has awarded over $1.67 million since inception, emphasizing the importance of supporting small business growth.

Orbis International, supported by FedEx, has launched a ten-week virtual training project in Vietnam to enhance eye care professionals' skills in treating glaucoma, a leading cause of blindness. This initiative addresses the increasing number of glaucoma cases, especially among younger populations, amid shortages of skilled professionals. Training includes virtual lectures, pre-learning courses, and simulation practices, enabling participants to practice complex procedures safely. FedEx has committed over US$22 million to support Orbis’s mission.

FedEx Express is collaborating with Elroy Air to test autonomous air cargo systems aimed at middle-mile delivery in 2023. This partnership marks a significant step in logistics innovation, utilizing Elroy Air's Chaparral aircraft, which can autonomously transport 300-500 pounds of cargo over distances of up to 300 miles. The collaboration is part of FedEx's strategy to enhance safety and efficiency in logistics operations, responding to the growing demand for reliable transportation solutions in the e-commerce sector.

FedEx Corp. (NYSE: FDX) announced leadership changes effective June 1, 2022. Frederick W. Smith will transition to Executive Chairman, while Raj Subramaniam, previously President and COO, will become President and CEO. R. Brad Martin has been appointed non-executive Vice Chairman, with a focus on Board governance. Subramaniam, with over 30 years of experience, aims to drive FedEx's future innovations while maintaining its core values. FedEx, generating $92 billion in annual revenue, is committed to achieving carbon-neutral operations by 2040.

FedEx Office has partnered with Notarize to launch the FedEx Office Online Notary, providing digital notarization services 24/7. This service allows users to notarize documents conveniently from any location through a video conference with a commissioned notary. Notarizations are priced at $25 per transaction, with an additional $10 for extra seals. The service aims to meet the growing demand, as over a billion notarizations occur annually in the U.S., enhancing efficiency for small businesses and consumers.