‘Heart and soul of FedEx’: Founder Frederick W Smith dies at 80; CEO Raj Subramaniam issues statement

Frederick W Smith, the visionary founder and former CEO of FedEx Corp, passed away on Saturday at the age of 80, confirmed FedEx. Smith, who transformed the logistics industry with the concept of overnight delivery, leaves behind a legacy that reshaped global commerce and created one of the world’s most recognisable brands.“It is with profound sadness and a heavy heart that I share that Frederick W Smith, our founder and executive chairman, died earlier today,” wrote FedEx President and CEO Raj Subramaniam in a message to employees. “Fred was more than just the pioneer of an industry… he was the heart and soul of FedEx – its PSP culture, values, integrity, and spirit.”Smith's journey from a college student with an unconventional idea to the architect of a global shipping empire is legendary.

As reported by the Commercial Appeal, the concept behind FedEx was born from a 1965 term paper he wrote at Yale University, proposing a system for time-sensitive deliveries—a vision few believed in at the time. “The overwhelming body of opinion said it wouldn’t work, or that we couldn’t raise the money,” Smith once recalled.FedEx officially began operations in 1973, and despite early financial and regulatory challenges, the company revolutionised air cargo delivery, offering businesses rapid shipment of urgent goods like electronics and machine parts.

Before FedEx, such deliveries were largely dependent on passenger flights, lacking the efficiency Smith envisioned.Smith led FedEx for decades, helping grow it into a multibillion-dollar enterprise employing hundreds of thousands worldwide. Along the way, he forged relationships with major political figures, including George W Bush and John McCain, advocating for open trade and deregulation, key to FedEx’s business model.Born on August 11, 1944, in Marks, Mississippi, Smith faced adversity early in life. Raised in Memphis after his father's death, he overcame a childhood hip disorder to become an athlete in high school. He showed early promise as both a pilot and entrepreneur, co-founding a record label at age 15 and later mastering both aviation and economics at Yale.Jim Barksdale, former FedEx COO and later CEO of Netscape, once said, “He is the most impressive executive I have ever met.”Smith’s death marks the end of an era for FedEx and the logistics industry at large. As Subramaniam noted, “In the coming days and weeks, I know we will all find ways to honor his memory and pay tribute to his legacy.”