Drone delivery in the United States has historically been limited to small-scale demonstrations on designated test sites, or extremely short flights along pre-planned, fixed routes – all within the visual line of sight of the drone operator. Earlier this year, Wing became the first drone operator to be certified as an air carrier by the Federal Aviation Administration, allowing it to deliver commercial goods to recipients that may be miles away. Wing’s pilot program in Virginia will be conducted as part of the U.S. Department of Transportation’s Unmanned Aircraft System Integration Pilot Program (IPP).

FedEx customers who live within designated delivery zones in Christiansburg, Virginia, and who opt in to the Wing delivery service, will be able to receive their packages via drone during the trial, provided certain operating conditions are met. “FedEx is constantly innovating and testing solutions to meet growing customer needs, and we are excited to add this pilot to our portfolio of first in-kind innovation,” said Don Colleran, FedEx Express President and CEO.

The Walgreens and Wing offering will provide greater convenience and access to health and wellness, food, beverage and convenience products by making over-the-counter medicines and other items available to local residents for delivery on-demand, through the air, within minutes after they are ordered. The companies will use the pilot program to further explore the future of retail delivery as part of their collaboration.

“Through our partnership with Wing, Walgreens will be the first U.S. retailer to offer an on-demand commercial drone delivery option in the U.S., allowing us to explore another omni-channel offering for the delivery of products and services our customers want and need – wherever, whenever and however they may want them,” said Vish Sankaran, chief innovation officer, Walgreens Boots Alliance, Inc.  “With this pilot, Walgreens will be in a unique position to capitalize on the convenience of drone delivery if and when it should expand, with approximately 78 percent of the U.S. population living within five miles of a Walgreens store.”

Also as part of the trial, Wing is working with beloved local Southwest Virginia retailer, Sugar Magnolia, to make a range of sweet and savory treats, gifts, stationery, and paper goods available for local residents to order by drone.

“Wing has spent the last seven years developing a delivery drone and navigation system for this purpose. By delivering small packages directly to homes through the air in minutes, and making a wide range of medicine, food and other products available to customers, we will demonstrate what we expect safer, faster, cleaner local delivery to look like in the future,” said Wing CEO James Ryan Burgess.

Christiansburg was selected as the pilot location because Wing has been closely partnered with neighboring Virginia Tech’s Mid-Atlantic Aviation Partnership (MAAP) for the past several years.

Learn More:                                                                                                                                                                                                                                                                                                                              Area residents interested in signing up for the trial, or learning more about any of the trial services, can visit wing.com/Virginia.

About Wing

Wing, a subsidiary of Alphabet, has built a small, lightweight aircraft and navigation system that can deliver small packages–including food, medicine and household items–directly to homes in minutes. Created in 2012, Wing has conducted more than 80,000+ flights across three continents. We believe drone delivery will improve the way our cities operate by reducing road congestion and creating new economic opportunities for local businesses. For more information visit wing.com.

Wing Contact: Alexa Dennett | wing.com | press@wing.com | @Wing

About FedEx Corp.

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $70 billion, the company offers integrated business solutions 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 450,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.

FedEx Contact: Isabel Rollison | policy.fedex.com | Isabel.Rollison@fedex.com |@FedExPolicy

About Walgreens

Walgreens (walgreens.com), one of the nation’s largest drugstore chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the first global pharmacy-led, health and wellbeing enterprise. Approximately 8 million customers interact with Walgreens in stores and online each day, using the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice. As of August 31, 2018, Walgreens operates 9,560 drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands, along with its omnichannel business, Walgreens.com. Approximately 400 Walgreens stores offer Healthcare Clinic or other provider retail clinic services.

Walgreens Contact: Molly Sheehan | news.walgreens.com | Margaret.sheehan@walgreens.com | @WalgreensNews

###

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This year’s and last year’s quarterly consolidated results have been adjusted for TNT Express integration expenses of $71 million ($0.21 per diluted share) for this year and $121 million ($0.36 per diluted share) for last year.

“Our performance continues to be negatively impacted by a weakening global macro environment driven by increasing trade tensions and policy uncertainty,” said Frederick W. Smith, FedEx Corp. chairman and chief executive officer.  “Despite these challenges, we are positioning FedEx to leverage future growth opportunities as we continue the integration of TNT Express, enhance FedEx Ground residential delivery capabilities and modernize the FedEx Express air fleet and hub operations.”

Operating results declined primarily due to weakening global economic conditions, increased costs to expand service offerings and continued mix shift to lower-yielding services.  The impact of one fewer operating day and the loss of business from a large customer also negatively impacted results.  These factors were partially offset by lower variable incentive compensation expenses, revenue growth at FedEx Ground and increased yields at FedEx Freight.

2020 Rate Increases

As previously announced, effective January 6, 2020, FedEx Express, FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 4.9%, while FedEx Freight shipping rates will increase by an average of 5.9%.  Details related to these and additional changes to rates and surcharges are available at fedex.com/rates2020.

Outlook

FedEx is unable to forecast the fiscal 2020 year-end mark-to-market (MTM) retirement plan accounting adjustment.  As a result, the company is unable to provide a fiscal 2020 earnings per share or effective tax rate (ETR) outlook on a GAAP basis.

FedEx is lowering its fiscal 2020 earnings forecast as the company’s revenue outlook has been reduced due to increased trade tensions and additional weakening of global economic conditions since the company’s initial fiscal 2020 forecast in June.  The company’s revised outlook also reflects increased FedEx Ground costs and August’s loss of FedEx Ground business from a large customer.  In addition, the FedEx ETR is now expected to be 24% to 26% before the year-end MTM retirement plan accounting adjustment, due to lower-than-expected earnings in certain non-U.S. jurisdictions.

FedEx now forecasts earnings of $10.00 to $12.00 per diluted share before the year-end MTM retirement plan accounting adjustment, and earnings of $11.00 to $13.00 per diluted share before the year-end MTM retirement plan accounting adjustment and excluding TNT Express integration expenses.  The capital spending forecast remains $5.9 billion.

“FedEx is implementing additional cost-reduction initiatives to mitigate the effects of macroeconomic uncertainty, including post-peak reductions to the global FedEx Express air network to better match capacity with demand,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer.  “However, we are continuing to make strategic investments to improve our capabilities and efficiency, which we expect will drive long-term increases in earnings, margins, cash flows and returns.”

These forecasts assume moderate U.S. economic growth, the company’s current fuel price expectations, no further weakening in international economic conditions from the company’s current forecast and no additional adverse developments in international trade policies and relations. FedEx’s ETR and earnings per share outlooks are based on the company’s current interpretations of the Tax Cuts and Jobs Act (TCJA) and related regulations and guidance, and are subject to change based on future guidance, as well as FedEx’s ability to defend its interpretations. These forecasts do not include potential costs associated with capacity reductions.

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 $70 billion, the company offers integrated business solutions 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 450,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities.  To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.

Additional information and operating data are contained in the company’s annual report, Form 10-K, Form 10-Qs, Form 8-Ks, Statistical Books and supplemental first quarter fiscal 2020 earnings release conference call slides.  These materials, as well as a webcast of the earnings release conference call to be held at 5:30 p.m. EDT on September 17, are available on the company’s website at investors.fedex.com.  A replay of the conference call webcast will be posted on our website following the call.

The Investor Relations page of our website, investors.fedex.com, contains a significant amount of information about FedEx, including our Securities and Exchange Commission (SEC) filings and financial and other information for investors.  The information that we post on our Investor Relations website could be deemed to be material information.  We encourage investors, the media and others interested in the company to visit this website from time to time, as information is updated and new information is posted.

Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate; anti-trade measures and additional changes in international trade policies and relations; a significant data breach or other disruption to our technology infrastructure; our ability to successfully integrate the businesses and operations of FedEx Express and TNT Express in the expected time frame and at the expected cost and to achieve the expected benefits from the combined businesses; our ability to successfully implement our business strategy and effectively respond to changes in market dynamics; the impact of the United Kingdom’s vote to leave the European Union and the terms of its withdrawal if it ultimately occurs; our ability to match capacity to shifting volume levels; changes in fuel prices or currency exchange rates; the impact of intense competition; evolving or new U.S. domestic or international government regulation or regulatory actions; future guidance, regulations, interpretations or challenges to our tax positions relating to the TCJA and our ability to defend our interpretations of the TCJA; our ability to effectively operate, integrate, leverage and grow acquired businesses; legal challenges or changes related to owner-operators engaged by FedEx Ground and the drivers providing services on their behalf; disruptions or modifications in service by, or changes in the business or financial soundness of, the U.S. Postal Service; the impact of any international conflicts or terrorist activities; our ability to quickly and effectively restore operations following adverse weather or a localized disaster or disturbance in a key geography; and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

First Quarter Fiscal 2020 and Fiscal 2019 Results

The company reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP” or “reported”). We have supplemented the reporting of our financial information determined in accordance with GAAP with certain non-GAAP (or “adjusted”) financial measures, including our adjusted first quarter fiscal 2020 and 2019 consolidated operating income and margin, net income and diluted earnings per share. These financial measures have been adjusted to exclude the impact of TNT Express integration expenses incurred in fiscal 2020 and 2019.

We have incurred and expect to incur significant expenses through fiscal 2021, and may incur additional expenses thereafter, in connection with our integration of TNT Express. We have adjusted our first quarter fiscal 2020 and 2019 consolidated financial measures to exclude TNT Express integration expenses because we generally would not incur such expenses as part of our continuing operations. The integration expenses are predominantly incremental costs directly associated with the integration of TNT Express, including professional and legal fees, salaries and employee benefits, travel and advertising expenses. Internal salaries and employee benefits are included only to the extent the individuals are assigned full-time to integration activities. The integration expenses also include any restructuring charges at TNT Express.

We believe these adjusted financial measures facilitate analysis and comparisons of our ongoing business operations because they exclude items that may not be indicative of, or are unrelated to, the company’s and our business segments’ core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. These adjustments are consistent with how management views our businesses. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating the company’s and each business segment’s ongoing performance.

Our non-GAAP financial measures are intended to supplement and should be read together with, and are not an alternative or substitute for, and should not be considered superior to, our reported financial results. Accordingly, users of our financial statements should not place undue reliance on these non-GAAP financial measures. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. As required by Securities and Exchange Commission rules, the tables below present a reconciliation of our presented non-GAAP financial measures to the most directly comparable GAAP measures.

Fiscal 2020 Earnings Per Share and Effective Tax Rate Forecasts

Our fiscal 2020 earnings per share (EPS) forecast is a non-GAAP financial measure because it excludes the fiscal 2020 year-end mark-to-market (MTM) retirement plan accounting adjustment and estimated fiscal 2020 TNT Express integration expenses. Our fiscal 2020 effective tax rate (ETR) forecast is a non-GAAP financial measure because it excludes the impact of the fiscal 2020 year-end MTM retirement plan accounting adjustment.

We have provided these non-GAAP financial measures for the same reasons that were outlined above for historical non-GAAP measures. The fiscal 2020 year-end MTM retirement plan accounting adjustment is excluded from our fiscal 2020 EPS and ETR forecasts, as applicable, because it is unrelated to our core operating performance and to assist investors with assessing trends in our underlying businesses. Estimated fiscal 2020 TNT Express integration expenses are excluded from our fiscal 2020 EPS forecast for the same reasons described above for historical non-GAAP measures.

We are unable to predict the amount of the year-end MTM retirement plan accounting adjustment, as it is significantly impacted by changes in interest rates and the financial markets, so such adjustment is not included in our fiscal 2020 EPS and ETR forecasts. For this reason, a full reconciliation of our fiscal 2020 EPS and ETR forecasts to the most directly comparable GAAP measures is impracticable. It is reasonably possible, however, that our fiscal 2020 year-end MTM retirement plan accounting adjustment could have a material impact on our fiscal 2020 consolidated financial results and ETR.

The table included below titled “Fiscal 2020 Earnings Per Share Forecast” outlines the impacts of the items that are excluded from our fiscal 2020 EPS forecast, other than the year-end MTM retirement plan accounting adjustment.

First Quarter Fiscal 2020

First Quarter Fiscal 2019

Fiscal 2020 Earnings Per Share Forecast

Notes:

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In addition, FedEx Express, FedEx Ground and FedEx Freight, all subsidiaries of FedEx Corp., will increase shipping rates and surcharges effective January 6, 2020:

• FedEx Express shipping rates will increase by an average of 4.9% for U.S. domestic, U.S. export and U.S. import services.
• FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 4.9%. FedEx SmartPost shipping rates will also increase.
• FedEx Freight shipping rates will increase by an average of 5.9% for shipments within the U.S. (including Alaska, Hawaii, Puerto Rico and the U.S. Virgin Islands) and between the contiguous U.S. and Canada. FedEx Freight shipping rates will also increase for shipments within Canada, within Mexico, and between the contiguous U.S. and Mexico.

The following FedEx Express, FedEx Ground and FedEx Freight surcharge changes will also take place effective January 20, 2020:

• Applicable services, criteria and pricing for FedEx Express and FedEx Ground packages that require additional handling or are oversized will change.
• There will be changes to applicable surcharges for FedEx Express and FedEx Ground fuel surcharge assessment.
• Applicable criteria for the FedEx Freight Capacity Load minimum charge will change.

The list of Delivery Area Surcharge ZIP Codes for FedEx Express, FedEx Ground and FedEx SmartPost will also be changed effective January 6, 2020.

Details of all changes to rates and surcharges are available at: http://fedex.com/rates2020.

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Roxo, the FedEx SameDay Bot, Joins

FedEx was recognized with an honorable mention in Fast Company’s Innovation by Design Awards for 2019 in the User Experience, Mobility and Best Design category for Roxo, the FedEx SameDay Bot, an autonomous vehicle and device designed to make last-mile deliveries.

Innovation by Design is the only competition to honor creative work at the intersection of design, business, and innovation. The awards recognize people, teams, and companies solving problems through design. Fast Company is recognizing an influential and diverse group of 483 leaders in fashion, architecture, graphic design, data visualization, social good, user experience, mobility, and more.

Winners, finalists, and honorable mentions are featured online and in the October issue of Fast Company magazine, on newsstands September 17. Winners will also be recognized at a special celebration at Fast Company’s Innovation Festival in November.
Fast Company editors and writers spend a year researching and reviewing applicants for the awards. This year’s applicant pool was the most competitive ever, with more than 4,300 entries.

Honorees for the 2019 awards were selected in the following categories: Apps and Games; Data Design; Experimental; Fashion and Beauty; General Excellence; Graphic Design; Health; Learning; Mobility; Products; Retail Environments; Social Good; Spaces, Places, and Cities; Students; Timeless Design; User Experience; Workplace; Best of Asia-Pacific; Best of Europe, Middle East, and Africa; Best of Latin America; and Best of North America. Fast Company is also recognizing Nike as the title’s Design Company of the Year for its outstanding efforts merging digital and physical retail experiences.

To see the complete list, go to: https://www.fastcompany.com/90389166/innovation-by-design-2019-winners

To learn more about Roxo, go to: https://thefuturefedex.com/

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FedEx supported these disaster relief efforts through its relationships with humanitarian organizations including Direct Relief, International Medical Corps, Team Rubicon and Water Mission.

Team members loaded the FedEx Express Boeing 757 today in Memphis with medicines and medical supplies, hygiene kits, water treatment systems as well as International Medical Corps’ Mobile Health Facility. The cargo jet also carried employee relief supplies and generators for FedEx team members. Everything was unloaded upon arrival in Nassau where relief organizations had teams on the ground ready to deliver the critical aid where it’s needed most.

“Many of the people in these hard-hit communities have lost everything and are in desperate need of help. On behalf of the more than 450,000 FedEx team members around the world, we are proud to be able to use our global network to provide these lifesaving resources,” said Raj Subramaniam, president and COO, FedEx Corporation.  “We are inspired by the passion of these organizations and their commitment to making a difference in the lives of others, and we will continue to work with them as they help with recovery efforts.”

The relief effort is part of the company’s FedEx Cares “Delivering for Good” initiative, where the company uses its global network and unparalleled logistics expertise to help organizations with mission-critical needs in times of disaster. The delivery of the lifesaving supplies is also part of the company’s FedEx Cares 50 by 50 goal to positively impact 50 million people around the world by the company’s 50^th anniversary in 2023. 

Video is available for download at: http://about.van.fedex.com/media-downloads/

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The FedEx Air & Ground NFL Players of the Week Awards is a fan-voted program highlighting the week’s best quarterback and running back performances. Each week, FedEx donates $2,000 through FedEx Cares to the USO in the winning players’ names, totaling $4,000. These donations support USO Pathfinder^®, which provides resources and personalized services to assist service members and military spouses in their transition back to civilian life.

FedEx Cares is a global community engagement program with the aim of connecting people and possibilities around the globe. Launched in 2019, FedEx Cares 50 by 50 has set the ambitious goal of positively impacting 50 million people around the world by the company’s 50th anniversary in 2023.

Two-time FedEx Air NFL Player of the Year award winner Carson Palmer will return this season as program spokesperson. “I know how important this program is to helping the USO, a great organization that assists service members as they transition back to civilian life,” said Palmer. “I had a blast as spokesperson last year, and am proud to be returning in the same role this year, raising awareness of the donation FedEx makes each week to the USO in the name of the best running and quarterback performances.”

Also returning this season is the FedEx Football Fellowship, a collaboration of FedEx, the USO, Washington Redskins and Tennessee Titans to provide on-the-job career experiences to four retiring service members, during a season-long internship. Fellowship participants will gain firsthand insights into the day-to-day workings of an NFL organization.

“FedEx is honored to continue its support of the USO for the fourth consecutive year through the FedEx Air & Ground NFL Player of the Week Awards. These awards give football fans and local communities the chance give back to our service members,” said Patrick Fitzgerald, senior vice president, Integrated Marketing and Communications, FedEx. “We are especially excited to continue the FedEx Football Fellowship for the second year, which will once again help four veterans acquire skills and experiences as they transition to civilian careers.”

Following Monday Night Football, three quarterbacks and three running backs who display the best passing and rushing performances during that game week will be nominated for the FedEx Air & Ground NFL Player of the Week Awards. Fans will have until Thursday at 3 p.m. ET to cast their vote online at nfl.com/fedex and on Twitter and Facebook.

“FedEx is leveraging football, on and off the field, to help the USO in our mission to support and strengthen service members, throughout their military journey,” said Chad Hartman, USO Vice President of Development and Corporate Alliances. “Through the FedEx Air & Ground NFL Players of the Week Awards and the FedEx Football Fellowship, FedEx is making a real difference in helping our men and women in uniform transition from military service back to civilian life and we are very grateful for their continued support.”

At the end of the season, three quarterbacks and three running backs will be nominated for the FedEx Air & Ground NFL Players of the Year Awards, with the winners announced at NFL Honors in the lead-up to Super Bowl LIII in Miami Gardens, Florida.

For more information, visit nfl.com/fedex or follow the conversation on Twitter at #AirAndGround.

The USO is a longstanding partner of the NFL’s Salute to Service initiative, helping the league to honor, empower and connect service members and their families.

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Headquartered in Bogotá, Colombia, Cargex has operations in Bogotá, Medellin, Cartagena, Buenaventura, and Santa Marta, and would operate as a subsidiary of FedEx Logistics upon closing.

“The addition of Cargex offers future growth opportunities in the Latin American region, a key market for us,” said Udo Lange, chief operating officer and incoming president and CEO, FedEx Logistics. “This acquisition perfectly complements the roundtrip Colombia-to-Miami flight recently announced by FedEx Express. We will connect customers throughout the Latin American market with even more possibilities by combining world-class FedEx transportation solutions with a comprehensive line of logistics service offerings. We look forward to welcoming our new team members into the FedEx family and will utilize their expertise to make this integration a success.”

“The Cargex team looks forward to joining FedEx and combining our experience with theirs to expand business opportunities in the Latin American region,” said Pablo Torres, General Manager and Angela Torres, Commercial Manager, Cargex. “With this acquisition, we will have access to an even larger global network, allowing us to help customers reach even more markets around the world.”

About FedEx Corp.

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $70 billion, the company offers integrated business solutions 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 450,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.

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“We are so excited we won this competition, especially given the amazing business proposals put together by the other talented teams,” said Noelle Pang of Hong Kong and Kenneth Tee of Singapore. “This challenge has been an incredible learning experience. With the skills and tools we learned, we feel ready to take on the business world with confidence and pursue our dreams of becoming leading global entrepreneurs.”

Team Pioneers – made up of Shamita Sheetal from Malaysia and Trang Hoang from Vietnam – came second with their idea of ‘The Cardiator’ which is designed to curb cardiovascular diseases by detecting elevated cardiac enzymes 5 to 6 hours before a potential heart attack.

Team Rife – made up of Nydia Lee from Hong Kong and Shveenita Alyza Kanapathy from Malaysia – came third with their idea of ‘Eartaps’ which is a convenient hearing aid equipped with auto-sensation, automatically changing its settings to adapt to the varying noise level of surroundings in real time, designed for the elderly.

“FedEx is committed to connecting people and businesses around the world,” said Karen Reddington, president, Asia Pacific, FedEx Express. “We are pleased that FedEx is part of the FedEx/JA International Trade Challenge program that cultivates youth entrepreneurship and empowers our business leaders of tomorrow. We hope to inspire young entrepreneurs to think big – to think globally. A brilliant business idea may start small, but with a global network, the possibilities are endless.”

“This is an exciting milestone for our young entrepreneurs from around the Asia Pacific region,” said Vivian Lau, President and CEO of JA Asia Pacific. “FedEx/JA ITC has provided these young entrepreneurs not only with the necessary business knowledge and real-life skills but also the global connectedness to unleash infinite opportunities and pursue life-long dreams.”

The FedEx/JA ITC program is jointly organized by FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, and JA Asia Pacific, a member of JA Worldwide. To date, the FedEx/JA ITC has inspired and benefitted more than 22,800 young people across the region, allowing them to learn more about entrepreneurship and introduce them to the world of business, economics and international trade through classroom learning and practical teamwork exercises.

Now in its 13th year, the program has grown considerably: just 295 students from three markets took part in the 2007 program. This year, more than 2,716 students from 10 markets[1] took part.

About FedEx Express/JA International Trade Challenge Asia Pacific (FedEx/JA ITC)

Designed to foster business knowledge through practical teamwork exercises and classroom learning, the FedEx/JA ITC program comprises two key activities – the International Trade Workshops and the International Trade Challenge. To take part in the FedEx/JA ITC, students in teams of two have to develop a specific product or service and create an original international market entry strategy for a designated country. Through this process, students gain first-hand experience of what roles world trade, product distribution and sales play in a market environment. In addition to teamwork, participating students learn the basics of risk evaluation in the business world and gain confidence in their analytical ability.

[1] Australia, mainland China, Hong Kong, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand and Vietnam

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JA student companies participating in the finals presented to a judging panel consisting of Steve Smith (NBA Champion and All-Star), Tommy Fleetwood (PGA TOUR player and FedExCup Finals participant), Ian Finnis (Tommy Fleetwood’s Caddy) Ryan Lane (founder of Dream Beard and FedEx Small Business Grant recipient) and Laura Neal (Senior Vice President Media Content and Communications, PGA TOUR.

The judging panel evaluated each company’s ability to deliver a compelling pitch, create a succinct visual presentation and connect their business concept to innovation, sustainability, job creation or the trade industry.

“The student entrepreneurship I witnessed today at the FedEx Junior Business Challenge was incredible,” said Tommy Fleetwood. “It was so fun being a part of the event as a panel judge and learning about the students’ aspirations for the companies they developed. FedEx has created a really unique experience for JA students to take part in at the TOUR Championship.”Through its PGA TOUR sponsorship, FedEx hosted FedEx Junior Business Challenge qualifier events at three PGA TOUR tournaments this year: the Charles Schwab Challenge (Ft. Worth, Texas), the Travelers Championship (Cromwell, Conn.) and the 3M Open (Blaine, Minn.). At each event, JA student companies presented their business ideas to a judging panel consisting of a mix of PGA TOUR players, local celebrities, FedEx Small Business Grant winners and business leaders. Notable judging panel participants included: DeMarcus Ware (Super Bowl Champion, 9x Pro Bowler), Kyle Rudolph (2x Pro Bowler), Nick Bonino (2x Stanley Cup champion), Paul Casey (3x PGA TOUR tournament winner), Ryan Palmer (4x PGA TOUR tournament winner) and Kevin Streelman (2x PGA TOUR tournament winner).

“Entrepreneurship has been a part of our DNA since FedEx was founded in 1973 and continues to be an integral part of our business as we deliver possibilities around the world every day,” said Patrick Fitzgerald, senior vice president, Integrated Marketing and Communications, FedEx. “We’re proud to work with the PGA TOUR and JA Worldwide to positively impact aspiring entrepreneurs through the FedEx Junior Business Challenge. We’re absolutely thrilled to see the innovation and forward-thinking presented by JA students at the finals today.”

In the three seasons of the FedEx Junior Business Challenge the program has impacted hundreds of students across the United States and Canada, donating nearly a quarter of a million dollars to participating JA chapters to help positively impact the next generation of entrepreneurs. Since 1996, FedEx has donated nearly $16 million to JA Worldwide in support of small businesses and future entrepreneurs.

The FedEx Junior Business Challenge program is part of the newly launched FedEx Cares 50 by 50, a journey to deliver hope, change and new possibilities for 50 million people by the company’s 50th anniversary in 2023. FedEx launched the new strategy after exceeding its goal to invest $200 million in 200 global communities by 2020 six months early.

The JA Worldwide network reaches more than 10 million young people in more than 100 countries, making JA a natural fit for FedEx Cares 50 by 50.
With FedEx as the official sponsor of the PGA TOUR since 2002, FedEx and the PGA TOUR have a long-standing relationship. In 2007, the PGA TOUR introduced the FedExCup as the first season-long competitive and promotional platform, transforming the competitive landscape of professional golf. The performance-based point structure culminates with the
FedExCup Playoffs, a four-tournament playoff at the end of the season to determine the FedExCup Champion.

See highlights from this season’s FedEx Junior Business Challenge on Facebook, Instagram via @FedEx and on Twitter via @FedEx, and join the conversation by using #FedExJuniorBiz on Twitter and Instagram. To learn more about the FedExCup, visit PGATOUR.com/FedExCup.

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At the 2019 National Truck Driving Championships

FedEx Freight’s Scott Woodrome named NTDC Grand Champion for second straight year

MEMPHIS, Tenn., August 20, 2019—FedEx Corp. (NYSE: FDX) today announced that five drivers representing the global transportation company were recognized with top honors at the 2019 National Truck Driving Championships and National Step Van Driving Championships (NTDC/NSVDC).  Scott Woodrome won the Twins title and earned his second straight NTDC Grand Champion award.  This is the third straight year a driver representing a FedEx operating company has been named Grand Champion. Five were crowned National Champions in their respective driving classes, and FedEx Express driver John Sanderson was named the National Rookie of the Year.

The competition, which took place August 14-17 in Pittsburgh, PA, is hosted each year by the American Trucking Associations and has a long history dating back to 1937, when it was known as the National Truck “Roadeo.”

“We are proud of all the men and women who competed in the National Truck Driving Championships, and particularly those who took top honors at the national level,” said Frederick W. Smith, Chairman and CEO, FedEx Corp.  “Each of these drivers represents both our commitment to excellence and our dedication to ‘safety above all’ in the communities in which we operate.”

This year, FedEx had the privilege of sending a total of 176 drivers from across the country to the NTDC. In the past 17 years, FedEx drivers have earned six National Grand Champion titles, 62 National Championships, and nine National Rookie of the Year titles.

Individuals honored this year include:

• Scott Woodrome (Middletown, OH) won the Twins National Championship, his fourth national title in five years. He was also named the Grand Champion. The 2006 Ohio Rookie of the Year, Scott has never lost at the state level and has competed in seven different driving classes at the NTDC. He is a member of the America’s Road Team and the FedEx Freight Road Team. Scott was also named the 2015 Driver of the Year by the Ohio Trucking Association. He has logged more than 1.9 million safe-driving miles.

• Adam Heim (Rathdrum, ID) won the 4-Axle National Championship to culminate his first appearance at the NTDC. The FedEx Freight team member has driven professionally for 19 years and logged more than 700,000 safe-driving miles.

• Adam Stroup (Council Bluffs, IA) won the Step Van National Championship. This was Adam’s fourth consecutive NTDC appearance. The FedEx Express team member has driven professionally for 20 years and logged more than 760,000 safe-driving miles.

• Basher Pierce (Sophia, NC) won the Flatbed National Championship, his second national title. The FedEx Freight team member also won the 3-Axle National Championship in 2014. Basher has accumulated more than 1 million safe-driving miles during his 27-year professional career.

• Paul Brandon (Oxford, CT) won the Tank Truck National Championship. The FedEx Freight team member was also the 2014 National Flatbed Champion. This is the 11^th straight year Paul has qualified for the NTDC. Named the 2011 Driver of the Year by the Motor Transport Association of Connecticut, he has logged more than 1.55 million safe-driving miles during his 40-year career.

In addition to five national champions, nine drivers were top finishers in their respective driving class:

• Cecil “Sparky” Hicks, FedEx Freight (Norwood, NC), 3^rd Place, Tank Truck
• Dave Mogler, FedEx Freight (Denver, CO), 2^nd Place, Twins
• Dave Rohman, FedEx Express (Charlotte, NC), 2^nd Place, 4-Axle
• Eric Damon, FedEx Express (Colorado Springs, CO), 3^rd Place, Step Van
• Eric Flick, FedEx Freight (Dayton, NV), 3^rd Place, Flatbed
• Greg Long, FedEx Express (Frederick, MD), 2^nd Place, Step Van
• John Sanderson, FedEx Express (Vancouver, WA), 3^rd Place, 3-Axle
• Matt Hart, FedEx Freight (Elko, NV), 3^rd Place, Straight Truck
• Scott Osborne, FedEx Freight (Brandon, MS), 2^nd Place, Flatbed

A FedEx driver received the Rookie of the Year award for the fifth straight year:

• John Sanderson, FedEx Express (Vancouver, WA), 3-Axle

Five drivers from FedEx were among the nine competitors who received the Highest Score on the Written Exam (All with perfect scores):

• Brent Glasenapp, FedEx Express (Franklin, WI), Flatbed
• Jottyn Santos, FedEx Express (Orlando, FL), 4-Axle
• Miguel Corral Jr., FedEx Freight (Crown Point, IN), 4-Axle
• Paul Brandon, FedEx Freight (Oxford, CT), Tank Truck
• Scott Woodrome, FedEx Freight (Middletown, OH), Twins

Also, two drivers from FedEx were members of Pennsylvania’s Team Champions:

• Bob Burnett of Burnett Trucking Inc., FedEx Ground (Erie, PA), Step Van
• Zach Eckenroth FedEx Freight (Grantville, PA), Flatbed

Nearly 450 drivers total competed in the NTDC and NSVDC this year.  Drivers vied for national titles in nine different classes of vehicles and for the National Grand Champion title. Drivers accumulated points by demonstrating their driving skills and knowledge of the industry through a written exam, pre-trip inspection and driving skills challenge.  To be eligible, a participant must have continuously driven for a motor carrier fleet for a minimum of one year and remained accident free for one year prior to the competition.

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