Logistics Management regrets to report that 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.”
In March 2022, FedEx reported that Smith would transition to Executive Chairman, and Raj Subramaniam, President and Chief Operating Officer, 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 first 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.”
