A year after founder Fred Smith’s death, FedEx’s CEO charts his own path

Good morning. Fortune Editor-in-Chief Alyson Shontell writing from New York this morning. “If you don’t like change, you’re going to hate extinction.” That’s the framing FedEx CEO Raj Subramaniam uses to motivate his troops, particularly in unpredictable times. Subramaniam has dubbed the recent supply chain disruption brought on by geopolitical conflict, tariffs, and more as a moment of “re-globalization.” And, as a company that moves almost 19 million packages per day, FedEx is on the front lines of it. I spoke to Subramaniam in June at FedEx’s Memphis headquarters for Fortune’s Titans and Disruptors podcast to learn how he’s leading through it and what he’s seeing around the corner. We also spoke about his transition to the top job after a multi-decade ascent from an entry-level FedEx po