For Immediate Release: March 16, 2001

MEMPHIS, Tenn. – March 16, 2001: FedEx Corp. (NYSE: FDX) announced today that R. Bruce Simpson, 60, president and chief executive officer of FedEx Custom Critical, plans to retire on June 15, 2001. Simpson, who will remain on the FedEx Custom Critical Board of Directors, will be succeeded by John G. (Jack) Pickard, 54, vice president of service and chief information officer. 

“Bruce has led FedEx Custom Critical through tremendous growth since he became president of the company in 1988,” said Alan B. Graf, Jr., executive vice president and chief financial officer of FedEx Corp. “Under his direction, the company has remained at the forefront of the expedited industry, introducing innovative services and sustaining its technological leadership.”

Simpson joined FedEx Custom Critical in 1982 as director of sales. At that time, the company had 17 employees and 40 vehicles making a few thousand deliveries a year. Today, FedEx Custom Critical delivers hundreds of thousands of shipments annually throughout the United States, Canada and Europe. Prior to joining FedEx Custom Critical, Simpson had a long career with the former Republic Steel Corporation. 

“For nearly 20 years, I’ve had the privilege of working with FedEx Custom Critical’s dedicated, innovative people, who do whatever it takes to serve the customer,” Simpson said. “As president and CEO, I have strived to perpetuate our company’s unique, customer-oriented culture. While I am retiring to spend more time with my family, I look forward to my continuing involvement with the company through its Board of Directors.”

Pickard brings nearly 30 years’ transportation experience to his new role as FedEx Custom Critical president and CEO. He joined the company in 1986 and has served as a vice president since 1989, holding positions in sales, marketing and operations. Pickard also serves on the FedEx Custom Critical Board of Directors.

FedEx Custom Critical provides exclusive-use, time-specific, non-stop, door-to-door shipping service throughout the U.S. and Canada and within Europe. Among its divisions are White Glove Services®, for shipments that require special care in handling, and CharterAir®, which offers an array of expedited air solutions to meet customers’ critical delivery times. FedEx Custom Critical is an operating subsidiary of FedEx Corp.

With annual revenues of $20 billion, FedEx Corp. is the premier global provider of transportation, e-commerce and supply-chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including FedEx Express, the world's largest express transportation company; FedEx Ground, North America's second largest provider of small-package ground delivery service; FedEx Freight, a leading provider of regional less-than-truckload freight services; FedEx Custom Critical, the world's largest provider of expedited, time-critical shipments; and FedEx Trade Networks, a provider of customs brokerage, consulting, information technology and trade facilitation solutions network.