FedEx expands freight forwarding business
17 / 01 / 2018
FedEx is expanding freight forwarding division, FedEx Trade Networks, with the addition of its speciality logistics and e-commerce solutions businesses from March.
FedEx Trade Networks (FTN), which is led by Richard Smith, son of FedEx founder Fred Smith, will include a new company called FedEx Forward Depots, with responsibility for critical inventory and service parts logistics, 3-D Printing, repair centre and the FedEx Packaging Lab.
From March, the forwarding business will also incorporate FedEx Supply Chain and FedEx Custom Critical, with financial results being reported within FTN from March.
Supply chain results are currently reported in the FedEx Ground segment and FedEx Custom Critical results are reported in the FedEx Freight segment
FedEx Corporation president and chief operating officer David J. Bronczek said: “In order to improve our ability to leverage the unique capabilities of our specialty companies, we are realigning several companies in a new organisational structure under FedEx Trade Networks
“Richard brings a strong background in working with the unique capabilities that have existed in many parts of the FedEx portfolio for several years and is well suited to lead this new organisation that will bring these solutions to customers more seamlessly than ever.”
Smith added: “This realignment under FedEx Trade Networks will allow us to offer customers the full power of our wide array of unique and competitively advantaged customized services in a way that is even more convenient and intuitive.
“I am delighted to lead this organization of talented FedEx team members in delivering to customers the power of the broad FedEx global portfolio.”
Smith was appointed as head of the forwarding business in July last year.