Latest News

FedEx CEO informs staff that Frederick Smith, founder and executive Chairman of FedEx, has passed away.

FedEx Corp.'s former CEO Frederick Smith has passed away, according to a memo posted by the CEO Raj Subramaniam on the company website. Smith founded the global delivery conglomerate in the 1970s with more than 12 planes.

Smith, born in 1944, was the executive chairman of FedEx until recently. He focused on issues of global significance, such as sustainability, innovation, and public policy.

Subramaniam succeeded Smith as FedEx CEO in 2022. Subramaniam was the operations chief at that time.

"Fred was much more than the founder of a great company and a pioneer in an industry. Subramaniam wrote in a memo to employees that "Fred was more than just the founder of our great company and an industry pioneer."

Smith, a former officer of the U.S. Marine Corps who served in Vietnam, launched Federal Express with 389 team-members and 14 small aircraft that flew 186 parcels from Memphis to 25 U.S. city.

According to its website, FedEx's operations include 705 aircraft and more than 200,000 vehicles. It also has about 5,000 operational facilities. FedEx employs more than 500,000 people worldwide who handle 17 million shipments per day. (Reporting and editing by William Mallard, Jamie Freed, and KanjyikGhosh)

(source: Reuters)