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FedEx Archives: 2003 Press Releases

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FedEx Corp. Elects New Director

    Business Editors

    MEMPHIS, Tenn.--(BUSINESS WIRE)--Sept. 29, 2003--The Board of Directors of FedEx Corp. (NYSE: FDX) has elected J. Kenneth Glass, president, chief executive officer and a director of Memphis-based First Tennessee National Corporation (NYSE: FTN), to the FedEx Board. Glass will serve as a class I director for a term in office expiring at the 2005 annual meeting of stockholders. The Board of Directors has appointed Glass as a member of its Audit Committee. With the addition of Glass and the retirement of Ralph D. DeNunzio and F.S. Garrison, the FedEx Board now has 13 members.
    "Ken's proven leadership skills, financial expertise and high level of personal and professional ethics, will further strengthen the independence and quality of the FedEx Board," said Frederick W. Smith, chairman, president and chief executive officer of FedEx Corp.
    Under the leadership of Glass, First Tennessee National Corporation, through its principal operating subsidiary, First Tennessee Bank, N.A., has earned one of the highest customer retention rates of any bank in the country. Other FTN companies include First Horizon Home Loans, which earned a top-five ranking in customer satisfaction from J.D. Power and Associates; FTN Financial, one of the nation's top underwriters of U.S. government agency securities; and First Horizon Merchant Services, one of the most successful processors of credit card payments for the travel industry.
    Glass joined First Tennessee in 1974 as corporate controller and has held various executive level positions there since 1979. Before joining First Tennessee, Glass worked as an audit manager and certified public accountant, and his clients included large public companies. He earned a bachelor's degree in accounting from Harding University and completed the Harvard Business School Advanced Management Program.

    About FedEx

    With annual revenues of $23 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, the largest U.S. provider of regional less-than-truckload freight services; FedEx Custom Critical, North America's largest provider of expedited time-critical shipments; and FedEx Trade Networks, a provider of customs clearance, international freight forwarding and trade facilitation. FedEx ranked highest in the J.D. Power and Associates 2002 Small Package Delivery Service Business Customer Satisfaction Study(SM) in the categories of air, ground and international delivery services.
    NOTE TO EDITORS: Press releases and additional information about FedEx Corp. and its operating companies can be found on the World Wide Web at http://www.fedex.com.

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    CONTACT: FedEx Corp., Memphis
             Investor Contact:
             James H. Clippard, Jr., 901-818-7468
             jhclippard@fedex.com
             or
             Media Contact:
             Shirlee M. Clark, 901-818-7463
             smclark@fedex.com
             Home Page:  fedex.com

    KEYWORD: TENNESSEE
    INDUSTRY KEYWORD: TRANSPORTATION AIRLINES MANAGEMENT CHANGES
    SOURCE: FedEx Corp.