FedEx Corp. announced yesterday that Kenneth R. Masterson, executive vice president, general counsel and secretary, will retire effective June 1, 2005.

Masterson, 61, has led the company's legal, regulatory, governmental affairs and security groups since 1979. Corporate Vice President Christine P. Richards, 50, will succeed Masterson.
Masterson joined Federal Express in 1979 and, as senior vice president and general counsel, guided its growth and expansion through the Flying Tigers, Caliber, American Freightways, Kinko's and other key acquisitions. He became executive vice president, general counsel and secretary of Federal Express in 1996, has held the same positions with FedEx Corp. since its formation in 1998 and has been a member of the original executive committee since its formation that year. Masterson will serve as a consultant to FedEx after his retirement.
Christine Richards joined the Federal Express legal department in 1984 and currently is corporate vice president of customer and business transactions at FedEx Corp. and general counsel of FedEx Corporate Services. Richards worked extensively on the legal strategy that resulted in the economic deregulation of trucking, as well as many acquisitions and other significant business transactions. She has a bachelor's degree from Bucknell University and a juris doctorate degree from Duke University.
For more information, visit www.fedex.com.