FedEx Founder And Executive Chairman Frederick Smith Dies

FedEx Corp. founder and former CEO Frederick Smith, who built a global logistics empire starting with just over a dozen planes in the 1970s, has died, according to a memo from CEO Raj Subramaniam posted on the company’s website, Reuters reported.

Smith officially launched Federal Express in 1973 with 389 employees and 14 small aircraft, which delivered 186 packages from Memphis to 25 U.S. cities. I Photo: FedEx

Born in 1944, Smith was most recently serving as FedEx’s executive chairman, focusing on board governance and key global issues such as sustainability, innovation, and public policy, according to his company profile.

Smith stepped down as CEO in 2022 and was succeeded by Subramaniam, who was then FedEx’s chief operating officer.

“Fred was more than just the pioneer of an industry and the founder of our great company. He was a mentor to many and a source of inspiration to all,” Subramaniam wrote in the memo.

A former U.S. Marine Corps officer who served in Vietnam, Smith officially launched Federal Express in 1973 with 389 employees and 14 small aircraft, which delivered 186 packages from Memphis to 25 U.S. cities.

Today, FedEx operates 705 aircraft, over 200,000 vehicles, and approximately 5,000 facilities worldwide. More than 500,000 employees handle an average of 17 million shipments daily.