Synthetic is an improvement over "conventional", so no need to remove it.
Also, you don't need to keep 2 different gear oils around. You can use 75w140 in the front too, if you want.
Also, since someone will, or has asked it: You MUST use Mercon V (that's a 5), NOT Mercon III , in the (automatic)transmission, or you will damage it. You CAN use Mercon V in the transfer case, and power steering pump. The owners manual specified the old Dex/Merc fluid, simply because a
those components do not require the chemical/frictional changes made to the Mercon V fluid, and B.) the old Dex/Merc stuff is cheaper. However, there is no harm in using the "better" fluid in those other components.
Additionally, any vehicle which specifies DOT3 brake fluid, can use DOT4 with no problem. It's simply a newer, better fluid (higher boiling point). NEVER use DOT5 unless specified by the vehicle manufacturer. That is silicone fluid. It is not compatible with non-silicone fluid. Even a few drops will contaminate your whole braking system.
This concludes automotive fluids 101.