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Raj Subramaniam, an Indian-American, will take over as CEO of FedEx when the company’s founder steps down.

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Raj Subramaniam will succeed Frederick W Smith, who would step down as chairman and CEO on June 1. FedEx was started by Smith in 1971. He will now serve as the company’s executive chairman, with a focus on board governance and global challenges. He was the president and CEO of FedEx Express, the world’s biggest express transportation firm, prior to his present position. Smith said he is looking forward to concentrating on Board governance as well as global problems such as sustainability, innovation, and public policy in his new post.

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