The founder of Fedex (FDX), Fred Smith, who turned a small delivery company into a world shipping giant, died on Saturday, the company said. I was 80 years old.
“It is with a deep sadness and a heavy heart that I share that Frederick W. Smith, our founder and executive president, died today,” Raj Subramaniam wrote, who happened to Smith as CEO of Fedex in 2022, wrote on Saturday night. “Fred was more than the pioneer of an industry and the founder of our great company. It was Fedex’s heart and soul.”
In 1973, the company based in Memphis, Tenn., Then known as Federal Express, began with 186 deliveries on its first day of operations. Now it offers around 16 million packages per day and, in its fiscal year 2024, it generated income of more than $ 22 billion.
Fedex is scheduled to inform the results of the fourth fiscal quarter 2025 on Tuesday.
