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Fred Smith, the founder of FedEx who helped create the overnight delivery industry, changing the way businesses and consumers get the goods they purchased, has died. He was 80 years old.
His death was confirmed by the company.
“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 – its PSP culture, values, integrity, and spirit,” said Raj Subramaniam, FedEx’s CEO, in a statement. “He was a mentor to many and a source of inspiration to all.”
Smith came up with the idea for FedEx while a student at Yale University, writing a term paper proposing a revolutionary way to deliver time-sensitive shipments. He famously received only an average grade on the paper.
