Remembering Fred Smith, FedEx founder

Frederick W. Smith, founder and executive chairman of Memphis-based global freight transportation and logistics services provider FedEx, passed away on Saturday, June 21. Smith was 80.

In a message sent to FedEx team members, Raj Subramaniam, president and CEO of FedEx Corporation, wrote that Smith was more than just the pioneer of an industry and the founder of FedEx.

“He was the heart and soul of FedEx—its PSP [People-Service-Profit] culture, values, integrity, and spirit,” he said. “He was a mentor to many and a source of inspiration to all. He was also a proud father, grandfather, husband, Marine, and friend; please keep the entire Smith family in your thoughts and prayers during this difficult time. As we begin to process this tremendous loss, it is important that we take care of one another and demonstrate the passion and compassion that Fred embodied every day. In the coming days and weeks, I know we will all find ways to honor his memory and pay tribute to his legacy.”

Following news of Smith's passing there was no shortage of rememberances of him from various industry stakeholders. 

“Fred Smith was legend, a pioneer, an icon, and during his tenure as CEO of FedEx, he had more influence on The Capitol and in Washington, D.C., than CEO of any other corporation in the country,” said Satish Jindel, principal of Pittsburgh-based SJ Consulting Group. “It is a great loss not just for the company, but the industry and the corporate world.”

American Trucking Associations President & CEO Chris Spear called Smith a titan of the trucking industry, adding that through his hard work, ingenuity, and sheer determination, his vision for a revolutionary transportation company took flight.

“Over the course of five decades, he built FedEx into one of the world’s most iconic and innovative companies,” said Spear. “His contributions not only transformed our industry; they helped reshape our economy and forever changed the way we all live. Fred achieved an enduring legacy not just through the company he created, but also through his exemplary character. As a proud veteran who served his country in the United States Marine Corps, his life was defined by honor, duty, and patriotism. His leadership will forever be felt and appreciated by the millions of Americans who work in trucking and the countless more who benefit from its services.”

House Committee on Transportation and Infrastructure Chairman Sam Graves (R-MO) said that Smith was a visionary and pioneer in the transportation industry who helped revolutionize and shape the way commerce is conducted across the world.

“He leaves behind an unmatched legacy as a businessman and philanthropist,” said Graves. I want to extend my sincere condolences to his family, FedEx employees, and the people of Memphis upon his passing.”

Smith steps away from the day-to-day

In March 2022, FedEx reported that Smith would transition to executive chairman and Subramaniam would assume the position of president and CEO-elect, with that change going into effect on June 1, 2022.

Smith’s career ascension and leadership in the creation of FedEx, originally established as the air/ground Federal Express network in 1973, reads as a case study in how to create a business and shape it into one of the most successful and established companies in the world.

When he founded FedEx, its mission was to serve the rapidly growing, high-tech, high-value-added sectors of the economy, as stated in his FedEx bio. And since that time, FedEx has become a $90 billion-plus company, serving more than 220 countries and territories.

In his as FedEx chairman and CEO, Smith oversaw and provided strategic direction for each of the company’s segments, including: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services, which includes FedEx Office, FedEx Logistics, and FedEx Dataworks. FedEx has nearly 700 aircraft, more than 2,100 vehicles, and more than 5,200 operating facilities. What’s more, FedEx has nearly 600,000 employees whom collectively handle more than 16.5 million shipments per day.

“Fred is a visionary leader and a legend of the business world,” Subramaniam said in a March 2022 company statement. “He founded one of the world’s greatest and most admired companies, and it is my honor and privilege to step into this role and build upon what he has created. As we continue to transform as a company and reimagine what’s next, we will keep our people-service-profit philosophy at our core. I am immensely proud of our 600,000 team members around the world. Together we’ve set into motion ideas that have changed the world for the better, and together we will unlock new value for our people, customers, and shareholders.”

A born entrepreneur

Smith, born on Aug. 11, 1944 in Marks, Mississippi, worked as a charter pilot as he earned a degree in economics from Yale. While at the school, Smith conceived the idea of an integrated air-to-ground system for overnight delivery.

Before that vision got off the ground, Smith entered the United States Marine Corp. upon graduation in 1966. He did two tours in Vietnam as a rifle platoon leader, a company commander, and aerial observer/tactical air controller in the OV-10A. He was decorated with the Silver Star, Bronze Star, and two Purple Hearts for his military service.

He left the military as a Captain in 1970, and in 1973, launched Federal Express with a fleet of 14 Dassault Falcon jets. Today, FedEx employs more than 500,000 global and operates in 220 countries and territories.

Smith was a trustee for the Center for Strategic and International Studies, a director of the American Battle Monuments Foundation, and a member of the Business Council. He served on the Business Roundtable for more than 30 years. He also served as chairman of the U.S.-China Business Council and co-chair of the French American Business Council. Smith served on the boards of several large public companies — Malone and Hyde (AutoZone), First Tennessee, Holiday Inn, EW Scripps, and General Mills — and charitable organizations including St. Jude Children’s Research Hospital and the Mayo Foundation. He was chairman of the Board of Governors for the International Air Transport Association and chaired the executive committee of the U.S. Air Transport Association.

He served as co-chairman of both the U.S. World War II Memorial project and the campaign for the National Museum of the Marine Corps. He was committed to education, veterans’ affairs, and environmental sustainability.

He was preceded in death by his daughter Windland Smith Rice. He is survived by his wife, Diane Smith, and children: Stacey Rokas (Bill), Laurie Hooper (Steven), Richard Smith (Allison), Kathleen Forbush (Matt), Molly Heussenstamm (Bron), Arthur Smith (Allison), Rachel O’Neal (David), Sam Atkinson (Bubba), and Cannon Smith (Collins), as well as 31 grandchildren and two great grandchildren.

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