Federal Express founder and air cargo industry innovator Frederick Wallace Smith has died at the age of 80.
Recognised as a trailblazer in airfreight and logistics, Smith launched Federal Express in 1973 and leaves behind the largest cargo airline in the world.
While at Yale College in the 1960s, Smith worked as a charter pilot. 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, said FedEx in a press release.
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.
Smith launched Federal Express in 1973 with a fleet of 14 Dassault Falcon jets and a vision to transform the shipping industry. Under his leadership as its president and chief executive, FedEx grew from a small startup into a multinational corporation.
Today, Tennessee-headquartered FedEx is the world’s largest express transportation company and FedEx Express, as Federal Express is now known, is the world's largest cargo airline in terms of fleet size and freight tons flown.
The company employs more than 500,000 people globally, connects more than 220 countries and territories, and moves nearly $2trn in goods annually and more than 17m shipments per day. FedEx Express recently celebrated the 40th anniversary of its inaugural scheduled transatlantic service.
In 2022, after serving as one of the longest-tenured presidents and chief executives of a Fortune 100 company, Smith stepped aside to become founder and executive chairman of FedEx Corporation.
As executive chairman, Smith focused on issues of global importance, including sustainability, innovation, and public policy. Until his death, Smith continued to help shape the vision and the strategy of the company he founded, as well as work on critical policy issues for the transportation industry.
FedEx president and chief executive Raj Subramaniam said: “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.”
Amongst other voluntary board responsibilities, Smith was chairman of the board of governors for IATA and chaired the executive committee of the US Air Transport Association.
