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October 21, 1999 9:26 AM, EDT

MEMPHIS, Tenn. (AP) - Federal Express Corp. announced a shakeup of its senior management team, nine days after the company's chief executive officer announced plans to retire.

FedEx will create two new positions reporting directly to the CEO-elect, David J. Bronczek, who will succeed Theodore L. Weise upon his retirement Feb. 1.

Michael L. Ducker, who now runs the company's Asia-Pacific division, will become executive vice president of the international division on Dec. 1.

David Rebholz, who is now in charge of domestic ground operations, will be executive vice president of operations and systems support.

"These actions build upon the work we began two years ago to strengthen the global network, develop business in new markets, improve operational productivity and take customer service levels to all-time highs," Bronczek said in a written statement Wednesday.

FedEx is the world's leading overnight package delivery service.

Its parent company, FDX Corp., reported lower than expected earnings last month of 52 cents a share and the stock price dropped 12.4%.

FDX, a $17 billion transportation company that also owns RPS Inc., Viking Freight Inc. and Roberts Express Inc., later announced a 15 million share buyback.

The management realignment was announced after the close of trading on the New York Stock Exchange, where FDX shares were down 25 cents at $39.25.