Fred Smith, the visionary founder of FedEx, passed away at the age of 80, as confirmed by the company. Renowned for pioneering the overnight delivery service, Smith transformed the logistics landscape, benefiting both businesses and consumers alike. In a statement reflecting on his legacy, FedEx CEO Raj Subramaniam described Smith as the “heart and soul” of the company and praised his mentorship and inspiration for many employees.
Smith conceived the idea for FedEx while studying at Yale University, proposing a unique approach to time-sensitive deliveries in a term paper that received only an average grade. Despite this, he established Federal Express in 1971 in Little Rock, Arkansas, with operations commencing in Memphis two years later. The company started with 389 employees and 14 aircraft, delivering 186 packages to 25 cities in the United States.
Over the following five decades, FedEx expanded significantly, acquiring its first Boeing 727 freighters after Congress deregulated air cargo. The company diversified its service offerings, launching FedEx Ground for ground transportation and acquiring Kinko’s, rebranding it as FedEx Office. Smith noted that their inaugural night of operations marked the beginning of a global network that would significantly enhance connectivity around the world.
After retiring as CEO in 2022, Smith remained active as executive chairman. Born in 1944 in Marks, Mississippi, he served in the U.S. Marines and completed two tours in Vietnam before focussing on his business endeavours. Under his leadership, FedEx grew into a global shipping empire valued at nearly USD 90 billion, operating in 220 countries and territories.
Tributes poured in upon his passing, including a statement from former U.S. President George W. Bush, who hailed Smith as “one of the finest Americans of our generation.” Bush acknowledged the impact of FedEx in fostering economic growth and praised Smith’s patriotic spirit and commitment to family, noting that he had asked Smith to serve as Secretary of Defence on two occasions, both of which he declined.
Smith is remembered not just for building a groundbreaking company, but for his values, integrity, and the lasting influence he had on both the logistics industry and those who worked with him. He leaves behind a legacy that has forever changed the way the world conducts business, along with heartfelt condolences from family, friends, and admirers.