Fred Smith, the founder, executive chairman, and long-time chairman and CEO of FedEx Corporation (CCJ Top 250, No. 1), passed away at the age of 80 from natural causes in Memphis, the company announced.
Smith is a founder of the global transportation and logistics industry, building Federal Express – initially a fleet of 14 Dassault Falcon jets in 1973 – into the world’s largest express transportation company that now connects more than 220 countries and territories, moves nearly $2 trillion in goods annually, and handles more than 17 million shipments per day.
"Frederick W. Smith pioneered express delivery and connected the world, shaping global commerce as we know it," said FedEx President & CEO Raj Subramaniam. "His legacy of innovation, leadership, and philanthropy will continue to inspire future generations. I will miss not only his visionary leadership, but his trusted friendship and counsel.”
Smith was born on August 11, 1944, in Marks, Mississippi, and raised in Memphis, Tennessee. In 1962, he entered Yale College to pursue a degree in economics. While at Yale, he worked as a charter pilot and it was at Yale where he conceived the idea for an integrated air-to-ground system that would ensure overnight delivery – a concept that would eventually become Federal Express.
“Fred Smith was a titan of the trucking industry. Through his hard work, ingenuity, and sheer determination, his vision for a revolutionary transportation company took flight," said American Trucking Associations President & CEO Chris Spear. "Over the course of five decades, he built FedEx into one of the world’s most iconic and innovative companies. His contributions not only transformed our industry; they helped reshape our economy and forever changed the way we all live.
After graduating from Yale in 1966, he served four years in the United States Marine Corps (USMC), which included two tours of duty in Vietnam where he served 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 Marine Corps in 1970 as a Captain, and would often joke that he received his "business degree" from the USMC.
“Fred achieved an enduring legacy not just through the company he created, but also through his exemplary character," Spear said. "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.”
After serving as one of the longest-tenured Presidents and CEOs of a Fortune 100 company, Smith stepped aside in 2022 to become Founder and Executive Chairman of FedEx Corporation.FedEx
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, ensuring that FedEx played a positive role in communities around the world. Through philanthropic support of education, healthcare, sports, the arts, and community development, Smith helped re-shape Memphis.
