Cambridge, MA —The MIT Center for Transportation & Logistics (CTL) mourns the passing of Frederick Smith, founder and executive chair of FedEx, and honors his enduring legacy as a pioneer of innovation in global logistics and a valued friend to the CTL community.
Smith, whose revolutionary ideas transformed the transportation and supply chain industries, was a guest of honor at CTL’s 50th anniversary celebration in 2023. In an in-depth conversation with CTL Director Yossi Sheffi, Smith reflected on five decades of business leadership, innovation, and transformation—a journey that closely paralleled CTL’s own founding and growth.
“Fred Smith is a legend in our field,” Sheffi said in his introduction. “He not only started a company, he started an industry.”
Smith’s 1973 launch of Federal Express—with just 14 aircrafts delivering under 200 packages—catalyzed a new era of overnight shipping and package tracking, innovations that would reshape global commerce. Today, FedEx handles more than 16 million packages a day, a testament to Smith’s vision, determination, and belief in bold thinking.
In the conversation, titled “50 Years of Delivering Innovation,” Smith offered candid insights into the mindset behind lasting success. “If you’re in business and you don’t innovate,” he said, “you’re in the process of commoditization or extinction.”
He emphasized that fostering innovation means tolerating risk, and the unconventional minds that often bring the best ideas forward. “You’ve got to be able to tolerate characters,” he told the audience. “A lot of the people who come up with really good ideas are a little strange in certain ways…That’s what people thought about me.”
Under his leadership, FedEx not only survived but flourished in a fast-changing landscape. Smith attributed this resilience to a culture of analytical thinking and constant evolution. “Somehow we got from those 189 packages to $100 billion, because we're very analytical and we do understand you have to change.”
Smith’s visit marked a highlight in CTL’s 50th anniversary year—a celebration of the field he helped define and elevate. As CTL and the broader MIT community remember his life and impact, his words resonate with new urgency: “The way you have to do it is to do it,” a reminder of the relentless pursuit of progress that defined his career.
Of Smith’s passing, Prof. Sheffi reflected, “Not only was Fred a pioneer in the true sense of the word, but his humility and people-first leadership style made him one-of-a-kind.” The MIT Center for Transportation & Logistics extends its deepest condolences to the Smith family and the entire FedEx organization.