Frederick Smith, the founder and executive chairman of FedEx, passed away, the CEO informs employees
Frederick Smith, the founder and former CEO of FedEx Corp. (FDX.N), who began the international transportation colossus with over a dozen planes in the 1970s, passed away, according to a statement sent to employees and put on the company’s website on Saturday.
According to his profile on FedEx’s website, Smith, who was born in 1944, was most recently the company’s executive chairman and concentrated on board governance as well as global concerns like sustainability, innovation, and public policy.
In 2022, Subramaniam, who was then FedEx’s operations chief, took over as CEO after Smith resigned.
“Fred was more than just the creator of our fantastic firm and the forerunner of an industry. In the email to colleagues, Subramaniam stated, “He was an inspiration to everyone and a mentor to many.”
With 389 team members and 14 small planes, Smith, a former officer in the U.S. Marine Corps in Vietnam, formally began Federal Express in 1973, transporting 186 items from Memphis to 25 U.S. cities.
According to its website, FedEx currently operates 705 airplanes, over 200,000 vehicles, and around 5,000 operating sites. About 17 million shipments are handled daily by FedEx’s more than 500,000 employees globally.
