His extraordinary accomplishments led to many plaudits for Smith, including being named in 1989 to the Council of Supply Chain Management Professionals (CSCMP)’s Supply Chain Hall of Fame.
According to CSCMP, “he managed to create a multibillion-dollar industry and changed the way business was conducted. He invented the ‘hub and spoke’ distribution system—used today by both air cargo companies and passenger airlines—and created jobs for more than 60,000 people.” Smith also pioneered the use of information technology (IT) in building a competitive advantage, including his implementation of a computerized tracing system designed to tell the company (and the customer) where any package is at any time.
Born in 1944 in Marks, Mississippi, Smith was raised in Memphis, Tennessee. He worked as a charter pilot while earning his degree in economics at Yale, then served for four years in the U.S. Marine Corps. During those years, he conceived the idea for an integrated air-to-ground system that would ensure overnight delivery, and founded Federal Express in 1973.
The company quickly expanded from its initial fleet of 14 Dassault Falcon jets into a Fortune 100 company that now employs more than 500,000 team members globally, connects more than 220 countries and territories, and moves nearly $2 trillion in goods annually and more than 17 million shipments per day.
In 2022, Smith stepped aside from his CEO role to become founder and executive chairman of FedEx Corporation, focused on issues of global importance, including sustainability, innovation, and public policy.
“Frederick W. Smith pioneered express delivery and connected the world, shaping global commerce as we know it. 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,” FedEx President & CEO Raj Subramaniam said in a release.
Beyond his business achievements, Smith was a supporter of charitable causes, serving 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 also boosted the city of Memphis through philanthropic support of education, healthcare, sports, the arts, and community development.
