There are no reported injuries. Air traffic was stopped briefly, but since then the activities have resumed.
Frederick W. Smith, the founder and former executive chairman of Fedex, died on Saturday, announced the company. He was 80 years old.
“Fred was more than just the pioneer of an industry and the founder of our great company. He was the heart and soul of Fedex-de PSP culture, values, integrity and spirit,” said a message to FedEx employees of CEP RAJ Subramaniam, referring to the philosophy of the company of “People-service-proofit.”
Smith was described as “a mentor for many” and “source of inspiration for everyone.”
He graduated from Yale in 1966 and served for four years in the Marine Corps, including two on duty tours in Vietnam, before he launched the “Original Air-ground Federal Express Network, which started the activities in 1973” Marine Corps Association.
Fred Smith was a marine veteran who flew combat missions in Vietnam. This photo of him is from July 25, 1980 and is on top of a few Fedex trucks in San Diego, Calif. (Bettmann / Employee / Getty images)
Fedex was officially launched with 389 team members and 14 small aircraft that flew 186 packages from Memphis to 25 American cities, according to Reuters.
Smith recently served as an executive chairman of the company and concentrated on administrative management, as well as issues of worldwide interest, including sustainability, innovation and public policy, according to his profile on the Fedex website.
FedEx -founder Fred Smith: US Record Debt ‘Unstoppable’
He stepped aside in 2022 and was succeeded by Subramaniam, who was then the operation chief of the company, Reuters reported.
“While we are starting to deal with this enormous loss, it is important that we take care of each other and demonstrate the passion and compassion that Fred embodied every day. In the coming days and weeks I know that we will all find ways to honor his memory and bring a tribute to his inheritance,” concluded Subramaniam’s message to the company.
Former CEO of FedEx Fred Smith, who fought in Vietnam while he served in the US Marine Corps, looks on to the Vietnam Veterans Memorial in the National Mall on Memorial Day in Washington, US, 27 May 2024. (Tom Brenner / Reuters)
FedEx activities now include 705 aircraft, more than 200,000 vehicles and around 5,000 business facilities, according to its website. More than 500,000 employees worldwide treat around 17 million shipments at Fedex every day.
“FedEx has changed the way we live and do business” President George W. Bush, That Smith’s Brotherhood Brother was at Yale, said in a statement.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FDX | FedEx Corp. | 226.04 | +2.74 |
+1.23% |
David Solomon, Chief Executive Officer of Goldman Sachs Group Inc., speaks with Frederick Smith, founder and executive chairman of Fedex Corp., during the American Energy Security Summit in Oklahoma City, Oklahoma, on Monday, September 25, 2023. (Nick Oxford / Bloomberg / Getty images)
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“I asked him twice to serve as Minister of Defense, and he refused twice alone because of his dedication to his family. Laura and I sent our condolences to Fred’s beloved children and grandchildren and his wife, Diane,” Bush said.
