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FedEx Newsroom

FedEx Corp. Elects Gary Loveman, Harrah’s Entertainment CEO, as New Director

September 24, 2007

MEMPHIS, Tenn., September 24, 2007 — Shareowners of FedEx Corp. (NYSE: FDX) today elected Gary W. Loveman, chairman, president and chief executive officer of Harrah’s Entertainment, Inc., a provider of branded casino entertainment, to the corporation’s Board of Directors for a one-year term. The Board of Directors has appointed Loveman as a member of its Audit and Information Technology Oversight committees.

 
“Gary is a highly welcome addition to our Board of Directors,” said Frederick W. Smith, chairman, president and chief executive officer of FedEx Corp. “We look forward to benefiting immediately from his leadership experience and keen insight.”
 
Before joining Harrah’s Entertainment in 1998, Loveman was an associate professor of business administration at the Harvard University Graduate School of Business Administration.  Loveman was awarded a Ph.D. in economics from the Massachusetts Institute of Technology and a B.A. in economics from Wesleyan University. He serves on the board of directors of Harrah’s Entertainment and is an outside director of Coach, Inc.
 
At its annual meeting today, shareowners also reelected the other thirteen director nominees, each for a one-year term: Frederick W. Smith, James L. Barksdale, August A. Busch IV, John A. Edwardson, Judith L. Estrin, Philip Greer, J.R. Hyde, III, Shirley A. Jackson, Steven R. Loranger, Charles T. Manatt, Joshua I. Smith, Paul S. Walsh and Peter S. Willmott.
 
The shareowners took the following other actions at the annual meeting:
Ratified the appointment of Ernst & Young LLP as FedEx’s independent auditors for fiscal 2008.
 
Did not approve any of the four stockholder proposals:
  • A proposal requesting that FedEx amend its Bylaws to require that the Chairman of the Board shall not concurrently serve as the Chief Executive Officer.
  • A proposal requesting that shareowners be given the opportunity at each annual meeting to vote on a non-binding resolution to ratify the compensation of FedEx’s named executive officers.
  • A proposal requesting that FedEx report on the scientific and economic analyses relevant to the corporation’s environmental policy concerning greenhouse gases.
  • A proposal requesting that FedEx publish a report, updated semi-annually, disclosing detailed information about the corporation’s political contributions, including payments to trade associations.
 
Corporate Overview
 
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $36 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand.  Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 280,000 employees and contractors to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities.  For more information, visit news.fedex.com.
 

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