Remembering FedEx’s Fred Smith, a CEO of CEOs

Fred Smith, the legendary CEO of FedEx, passed away on August 10, 2023, leaving behind a legacy that transcends business success. A man of unwavering integrity and a visionary who transformed global commerce, Smith's impact extended far beyond the boardroom. To those who knew him, Fred was a leader whose values ran even deeper than his ambition, a rare quality in the world of business.

The last time I saw Fred Smith was just a few weeks ago, at a meeting in Nashville. We were taking a quick break from an intense dialogue with leaders across the political spectrum. The room was loud, full of opinions. As we got up, Fred took me aside to coach me, as he often did: "Now is the time to lead with our values," he told me. That was Fred: clear in his convictions, generous in his vision, and unwavering in his belief that business could—and must—be a force for good in the world.

Fred Smith is of course a giant in the history of American business. His vision and daring revolutionized global commerce and connected the world in unprecedented ways. But to those who knew him, Fred was something even rarer: a leader whose values ran even deeper than his ambition. I saw that moral compass in action during the first chaotic weeks of the COVID-19 pandemic. Hospitals were desperate for protective gear, and at Salesforce we were racing to source and deliver what we could. One breakthrough came when our team located 500,000 surgical masks in Los Angeles—but we had no way to get them quickly to hospitals in San Francisco. I called Fred. Without hesitation, he and his son Richard, a senior executive at FedEx, offered help, and within hours the masks were on trucks and on their way. That one shipment saved lives. And that moment told you everything you needed to know about Fred: decisive, humble, always leading with purpose.

It should be noted that FedEx was ultimately responsible for the successful distribution of roughly half of all COVID-19 vaccines in the United States. FedEx, under Fred's leadership, was an innovative company as well as an ethical one, among the earliest global leaders in corporate responsibility and philanthropy. That legacy came from the top. Fred believed in delivering with excellence, acting with integrity, and contributing to the betterment of society.

Smith's journey began in 1965 when he founded the company that would become FedEx. With a vision of a world connected by fast, reliable shipping, he built a business empire that redefined global logistics. Under his leadership, FedEx introduced groundbreaking innovations like overnight shipping, real-time tracking, and same-day delivery, transforming the industry and setting new standards for customer service.

But Fred Smith was not just a businessman; he was a visionary who understood the responsibility that came with success. He championed corporate social responsibility, advocating for initiatives that addressed environmental sustainability, community development, and employee well-being. FedEx Foundation, established in 1984, became a model of corporate philanthropy, supporting millions of individuals and communities through education, healthcare, and disaster relief efforts.

Fred's commitment to ethical leadership extended beyond FedEx. He was a mentor to countless executives, encouraging them to lead with integrity and purpose. His belief in the power of values to drive business success was a guiding principle for many.

In addition to his business acumen, Fred Smith was a passionate advocate for public service. He served as a U.S. Senator from Tennessee from 1993 to 1994, where he focused on issues such as healthcare, education, and economic development. His tenure in the Senate was marked by a pragmatic approach and a commitment to bipartisanship, reflecting his belief in the importance of common ground and collaboration.

Fred Smith's passing is a loss not just for FedEx, but for the business world and society as a whole. His legacy of excellence, integrity, and a relentless pursuit of doing good will inspire future generations of leaders. As we remember Fred Smith, we are reminded of a man whose values ran even deeper than his ambition—a true CEO of CEOs.