Iconic FedEx founder hands over

A page turns at the world leader in parcel transport. The founding boss hands over, after having held the reins of the company for fifty years.

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Fred Smith created FedEx in 1970. At the time, everything smiled on this young entrepreneur, even today despite the pandemic and the tense geopolitical situation in Europe. At 77, Frederick Smith intends to continue watching over his baby. He hands over operational management to one of his assistants while remaining chairman of the board of directors and a minority shareholder. Difficult to pick up.

Created with four million dollars in capital thanks to an inheritance, the company today employs 600,000 people worldwide for a turnover of 90 billion dollars (just over 80 billion euros) thanks to the distribution of 17 million packages per day. The newspaper The echoes traced the story and gave us this comparison: 17 million packages delivered daily today. On its first night of operation in 1970, the small company sorted 186 packages destined for 25 US cities. Today, FedEx has a fleet of 680 cargo planes and 140 are on order.

The pandemic and its various confinements have multiplied parcel deliveries with distance selling. As for the war in Ukraine, for the moment it does not slow down world trade, of which FedEx is one of the ambassadors. The idea of ​​delivery of orders or letters in less than 24 hours – which led to the creation of the company in 70 – has become the rule in a world driven by immediacy. With new challenges ahead.

The development of international trade constantly imposes new operating and profitability objectives on FedEx. As we have seen recently with the congestion of major international trade ports, the plane is an obvious alternative. And then, beyond simple transport, FedEx has become a logistics giant, which is also the business of the giants of internet distribution, and especially the Americans in the first place.

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