Fred Smith, founder of the world's first express delivery service, dies at 80
The founder of the American multinational logistics company FedEx (Federal Express), Fred Smith, who revolutionized the express delivery industry, has died at the age of 80. The Associated Press reports.
In 1973, Smith founded FedEx, which became the first company to offer express delivery of small packages and documents, surpassing traditional mail in speed.
He created a unique logistics model using a main air hub and a network of flights – the so-called "hub and spoke" system, which later became an industry standard.
In its early days, FedEx had only 14 small planes and delivered cargo to 25 cities in the United States.
Under Smith's leadership, FedEx has grown into a global logistics giant, handling an average of 17 million shipments daily.
Although Smith stepped down as CEO in 2022, he remained the company's executive chairman.
Smith is a U.S. Marine Corps veteran who served in the Vietnam War and was decorated for bravery. He graduated from Yale University in 1966, where he formulated the business idea that became the foundation of FedEx while still a student.
Former US President George W. Bush called Smith "one of the greatest Americans of our generation" and FedEx "an innovative company that helped accelerate the development of our [ed. – American] economy."
- In February 2022, FedEx and United Parcel Service suspended package deliveries to Russia amid its invasion of Ukraine.
- In April 2024, the United States Postal Service terminated its 22-year domestic air cargo partnership with FedEx.
