FedEx founder Fred Smith, one of the most influential figures in the development of modern logistics, died on Saturday, the company has announced.
Smith, who was 80, stepped down as chief executive of the company only in 2022 and was still executive chair of the company he founded in 1973 with a fleet of 14 Dassault Falcon 20 jets.
The idea for the service — widely replicated by other operators worldwide since — had started as a paper in Smith’s economics degree at Yale, where it was graded poorly by an academic who regarded it as unfeasible.
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