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According to reports, Fred Smith, the FedEx founder who revolutionized the express delivery industry, has died at the age of 80.
His death has been confirmed by the American company.
“Fred was much more than an industry pioneer and the founder of our great company,” FedEx CEO Raj Subramaniam said.
FedEx began operations in 1973, delivering small packages and documents faster than the postal service.
Over the next half-century, Smith, a Marine Corps veteran, oversaw the growth of a company that became something of an economic beacon because so many other businesses depended on it.
He was the heart and soul of FedEx, its PSP culture, values, integrity and spirit. He was a mentor to many and an inspiration to all.
Mr. Smith came up with the idea for FedEx when he was a student at Yale University, writing a thesis proposing a revolutionary way to deliver urgent shipments.
Smith once told the Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important, when in fact it was a start-up whose future was far from assured.
