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Press Releases

October 22, 1999

FedEx Realigns Senior Management Team

Asia Pacific President promoted to spearhead all international markets New FedEx Asia Pacific President named

HONG KONG, October 22, 1999 - Federal Express Corp. today announced a realignment of its senior management team to better leverage its leadership and experience in global markets and to optimize its operations and systems around customer needs. Effective December 1, Michael L. Ducker, 46, currently president of the company's Asia-Pacific Division based in Hong Kong, will become executive vice president, International. David F. Rebholz, 46, currently senior vice president, Domestic Ground Operations, will become executive vice president, Operations and Systems Support.

The two newly created positions will report directly to Chief Executive Officer-elect David J. Bronczek, 45, who was recently named to succeed current CEO Theodore L. Weise upon his retirement on February 1, 2000.

"These actions build upon the work we began two years ago to strengthen the global network, develop business in new markets, improve operational productivity and take customer service levels to all-time highs," said Bronczek. "Our future success depends on our customers' success and this structure will help us deliver more customized solutions to meet their needs for fast-cycle sourcing and distribution in today's global marketplace."

Ducker, who joined Federal Express in 1975, will be succeeded by David Cunningham, 38, currently vice president of South Pacific. Cunningham and the presidents of FedEx divisions in Canada, Europe, Middle East and Africa, and Latin America and the Caribbean will report to Ducker along with G. Edmond Clark, 45, senior vice president, Operations Support and Engineering.

Ducker has extensive international experience with Federal Express. He assumed his current responsibilities in 1995 for overseeing the company's operations throughout Asia, the Pacific Islands and the Indian subcontinent. Prior to that, he held vice president positions in the South Pacific, and in Southern Europe. Ducker also held a variety of operations management positions throughout the United States.

"This new structure allows us to take better advantage of the breadth and depth of executive talent and experience at Federal Express," said Bronczek. "We will do that by enabling executives with proven track records to replicate that success on a larger scale."