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Two shelves full of awards sit behind Mitch Erwin. Each plaque or statue commemorates a milestone in his twenty-four-year career, twenty-three of which have been at FedEx. These accolades symbolize Erwin’s critical role in high-stakes projects for almost two-and-a-half decades.
The corporate vice president and chief accounting officer has held what seems like every conceivable job that might be connected to the accounting function for one of the most well-known names in the logistics and supply chain industry. Throughout his tenure, he’s worked under a dozen different bosses—not because of turnover, but because he’s moved between roles which includes working for FedEx Freight, FedEx Express and FedEx Corporation to learn the business and gain more experience and responsibility.
Eventually, his extensive preparation culminated in his becoming a FedEx first. For the first time in the organization’s history, the entire global accounting and payroll organizations around the world rolls up to one leader: Erwin.
“The last couple of years have been about creating a global environment where you can bring the accounting culture together at FedEx,” the CAO explains. “Whether it’s the United States, APAC, MEISA, Europe, or in my Latin American organization, we’re creating a global functional model. How do you streamline end-to-end processes? That starts with a single ERP [enterprise resource planning system].”
“I observed Mitch navigate through the finance and accounting organization, showcasing his business acumen in financial analysis, M&A, and strategic decision-making,” notes Ed Bayer, KPMG LLP’s principal, advisory. “With a profound comprehension of the intricate workings of the business coupled with an impressive career trajectory, Mitch has acquired a reputation that combines strategic business planning with hands-on support.”
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FedEx, a global company with annual revenue of $88 billion, implemented a single ERP for its entire global and domestic operations. Erwin didn’t lead the massive seven-year project, but he highlights how it unified the accounting functions at FedEx.
“That ERP implementation unlocked the opportunity for us to work globally, not just be a global company that works,” Erwin says. “We’re a company with a lot of fixed assets: we buy a lot of planes, tractors/trailers, and equipment to deliver packages. Processing those transactions can now be handled through one global team.”
Uniting the accounting functions has big implications, the CAO explains. Previously, if an accountant in APAC wanted to learn about FedEx Freight or historical US-based business, they had to relocate. The same was true for US-based accountants wanting to know more about the global business. With the new ERP, employees can learn about new regions, new parts of the business, and new skill sets from wherever they are. Erwin says there’s been a big push at FedEx to get US teams more internationally focused and vice versa.
FedEx has repeatedly asked Erwin to tell his story as part of its regular internal speaker series. And for good reason—Erwin sought out every possible opportunity to learn more about the business.
“I did public accounting for a year before I realized that spending my whole career looking in the rearview mirror at the previous fiscal year wasn’t what I wanted,” Erwin recalls. “I didn’t know it at the time, but I wanted to be able to help an organization plan for the future. Accounting wasn’t looked at that way at the time, but it’s essential for an accounting leader today.”
The CAO says the accounting function has evolved to the point that the discussion isn’t about what happened six months ago. Instead, it’s about what will happen over the next six months based on what’s happening in the business. The vast majority of what the accounting leader spends his time on these days is future focused.
Brad Phillips, KPMG LLP’s managing director, has noticed that Erwin has garnered the attention of FedEx’s senior leadership. “Mitch consistently aligns with FedEx’s strategic goals and is renowned for his leadership,” Phillips says. “He communicates precise expectations to his teams and champions the growth and development of individual team members, fostering an environment of continuous improvement and accountability.”
Erwin says that coming to FedEx cemented the difference between a job and a career. A job gives you a paycheck; a career provides you with a path. FedEx gave Erwin a career with upward mobility, leaders who cared about his development and growth, and mentors who pushed him to seek out opportunities within the company to enhance his own capabilities. Erwin now wants to be such a leader and mentor for the 1,200 global employees who now report up to him.
“I always tell people to learn the business inside and out,” the CAO explains. “And that whatever job they’re in is almost certainly not going to be their last. In your first four or five years, you figure out what drives you as an individual. Take your accounting background, build on those core values, build on what drives you, and figure out a way to add value to your business.”
Vanguard congratulates Mitch Erwin on this well-deserved recognition for his distinguished career. Mitch’s efforts embody Vanguard’s mission of giving every investor the best chance for retirement success, and we are proud to be his trusted partner. Throughout his time at FedEx, Mitch has been committed to helping retirement plan participants reach their financial goals, and he has made a difference in the lives of countless employees. Thanks to his stewardship, we’ve seen impressive growth in both plan participation and saving rates. We look forward to even more success in the future. Congratulations, Mitch, and thank you for your hard work and dedication.
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