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FedEx tech executive departs after probe into claims his unit inflated its performance: report
New York Postยท 2025-07-18 17:31
Core Insights - FedEx's Chief Digital and Information Officer, Sriram Krishnasamy, is leaving the company following an investigation into claims of inflated performance within his unit [1][4][5] - The investigation pertains to a personnel matter within the IT department, which Krishnasamy oversaw, and he will remain with the company as an executive adviser until October or potentially earlier [2][5] - FedEx's stock fell by 1.4% following the announcement of Krishnasamy's departure, and the company is currently facing financial challenges due to trade uncertainties [4][11] Company Leadership Changes - Sriram Krishnasamy has been with FedEx since 1997 and has held various leadership roles globally [2][9] - The data and technology organization will now report directly to FedEx CEO Raj Subramaniam as the company prepares for a transition [6] Financial Outlook - FedEx has warned of a financial hit in the current quarter due to the impact of President Trump's trade war, which has disrupted global shipping and trade [8][9] - The company has withheld its financial forecast for the current fiscal year due to ongoing trade uncertainties, with its stock down approximately 17% year-to-date [11]