Smith once said 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 operation with a future far from assured.

Smith stepped aside as FedEx's CEO in 2022 and was succeeded by Subramaniam, who was then the company's operations chief.

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…