Frederick Wallace "Fred" Smith (born August 11, 1944) is the founder, chairman, president and CEO of FedEx, originally known as Federal Express. The company is headquartered in Memphis, Tennessee.
Video Frederick W. Smith
Initial years
Smith was born in Marks, Mississippi, son of James Frederick Smith - who (before age 20) dropped his first name, expressing his preference for being known as Fred or Frederick - founder of chain restaurants Toddle House and Smith Motor Coach Company (renamed Dixie Greyhound Lines after The Greyhound Corporation bought a controlling stake in 1931). Fred Smith, the father, died while Fred Smith, the son, was only 4 years old, and the boy was raised by his mother and uncle.
Smith was paralyzed by bone disease as a small boy but regained his health at the age of 10, before becoming an excellent football player and learning to fly at the age of 15.
Smith was very interested in flying, and became an amateur pilot as a teenager. He attended elementary school at Presbyterian Day School and high school at Memphis University School.
In 1962, Smith entered Yale University. While attending Yale, he wrote a paper for economy class, describing the overnight delivery service in the computer information age. The folklore shows that he received C for this paper, although in later interviews he claimed that he told the reporter, "I do not know what grade, it might make my usual C," while another story suggests that his professor told him that, get C, the idea should be feasible. The paper became FedEx's idea (over the years, the sample package featured in the company's print ad displays the sender's address at Yale). Smith became a member and eventually president of the Delta Kappa Epsilon (ECE) fraternity and the secret society of Skull and Bones. He received a bachelor's degree in economics in 1966. In his college days, he was a friend and brother of DKE George W. Bush. Smith also befriends John Kerry and shares his enthusiasm for the flight with Kerry and is a flying partner with him.
Maps Frederick W. Smith
Marine Corps Service
After graduation, Smith was assigned to the US Marine Corps, serving for three years (from 1966 to 1969) as platoon leader and advanced air handler (FAC), flying in the back seat of the OV-10. Many mythologies exist about this part of his life; Smith is a Marine Corps "Ground Officer" for all his services. He was specially trained to fly with the pilot and observe and 'control' the action of the land. He never went through Naval aviation training and was not a "Navy fighter" or "pilot" in the military. Individuals who complete Navy aviation training and become "Navy Pilots" (pilots) are required to serve six years at the time.
As a Marine, Smith had the opportunity to observe the military logistics system directly. He serves two assignments in Vietnam, flying with pilots on more than 200 combat missions. He was honorably discharged in 1969 with the rank of Captain, having received the Silver Star, the Bronze Star, and two Purple Hearts.
His Silver Star quote reads:
The President of the United States is pleased to present the Silver Star to First Lieutenant Frederick Wallace Smith, the United States Marine Corps, for his brave and splendid courage in his acts as Acting Commander of Company K, 3rd Battalion, 5th Marines, 1st Division Marine in connection with operations against enemies in the Republic of Vietnam. On the morning of May 27, 1968, while conducting search and destruction operations, K Company became deeply involved with the battalion of the Northern Vietnamese Army occupying a strongly rooted settlement on the island of Goi Noi in Quang Nam Province. When Lieutenant Smith led his men in an aggressive attack on enemy positions, North Vietnamese troops launched a specified counter-attack, backed by mortars, on the Marines' left wing. Without hesitation rushing through a very strong fire into the toughest contact position, Lieutenant Smith fearlessly removed some of the victims from dangerous areas and, shouting the words of encouragement to his subordinates, aiming their shots at an advanced enemy army, managed to repel enemy attacks. Moving boldly across the blazed area to an elevated area, he quietly ignores repeated North Vietnamese attempts to direct him as he skillfully adjusts artillery fire and air strikes in a hostile position up to fifty meters from his own location and continues to direct his unit's movement. Accurately assessing the confusion supporting weapons causing among the enemy soldiers, he ran across the fire-sweeping field to his right wing and led the attack enveloping the hostile feeble points of the unit, routing the North Vietnamese unit and causing many casualties. His aggressive tactics and quiet presence under fire inspired everyone who watched him and played a key role in his bookkeeping unit to capture two enemy soldiers as well as some valuable documents and equipment. With his courage, his aggressive leadership, and his unshakable devotion to duty with great personal risk, Lieutenant Smith upholds the highest tradition of the Marine Corps and the United States Navy. "
While in the military, Smith carefully observed procurement and delivery procedures, refining his dreams for overnight delivery services. He praised the Marine Corps by teaching him how to treat others and how to become a leader, two important places that he later founded FedEx.
Business career
In 1970, Smith purchased a controlling stake in an aircraft maintenance company, Ark Aviation Sales, and in 1971 shifted his focus to used jet trade. On June 18, 1971, Smith founded Federal Express with his $ 4 million inheritance (about $ 23 million in 2013 dollars), and raised $ 91 million (about $ 525 million in 2013 dollars) in venture capital. In 1973, the company began offering services to 25 cities, and started with small packages and documents and the Falcon 20 jet fleet (DA-20). The focus is on developing an integrated ground system, which has never been done before. Smith develops FedEx on the business idea of ​​a shipping version of the clearing bank where one clearing bank is located in the center of the representative bank and all their representatives will be sent to a central location to exchange materials.
In the early days of FedEx, Smith had to work hard to keep the company going. In one instance, after a crucial business loan was rejected, he took $ 5,000 from the last company to Las Vegas and won a $ 27,000 gamble at blackjack to cover the company's $ 24,000 fuel bill. That keeps FedEx alive for another week
Smith has served on the boards of several major public companies, as well as the Children's Research Hospital St. Jude and the board of the Mayo Foundation. He was previously chairman of the Board of Governors for the International Air Transport Association and US. Air Transport Association . Smith is chairman of the Task Force Security Roundtable Business, and a member of the Business Council and the Cato Institute. He serves as chairman of the US-China Business Council and is now chairman of the French-American Business Council. In addition, Smith was named Person of the Year 2006 by the French-American Chamber of Commerce. He is a member of the Flight Hall of Fame. Smith was approached by Senator Bob Dole, who asked Smith for support in opening the company's door for a new World War II memorial. Smith was appointed deputy chair of the US World War II Memorial Project. Smith was appointed CEO of the Year CEO of 2004 Magazine.
In addition to FedEx, Smith is also one of the owners of the NFL Team Washington Redskins. His son, Arthur Smith, who plays football at the University of North Carolina, is a Tier Path Assistant/Path Assistant for Tennessee Titans. This partnership resulted in the FedEx sponsorship of Joe Gibbs NASCAR racing team. Smith also owns or owns several entertainment companies, including Dream Image Productions and Alcon Films (Insomnia Warner Bros. film producer starring Al Pacino and Robin Williams).
In 2000, Smith made an appearance as himself in the Tom Hanks Movie Cast Away movie, when Tom's character was welcomed back, which was filmed on site at FedEx's home facility in Memphis, Tennessee.
A Duke Fraternity Brother of George W. Bush while at Yale, after Bush's 2000 election, there was some speculation that Smith might be appointed to the Bush Cabinet as Defense Minister. While Smith was Bush's first choice for the position, he refused for medical reasons - Donald Rumsfeld was named. Although Smith was friends with both 2004 great candidates, John Kerry and George W. Bush, Smith chose to support Bush's re-election in 2004. When Bush decided to replace Rumsfeld, Smith was offered another position, but he refused to spend time with his ailing daughter severe.
Smith was a supporter of Senator John McCain's bid in 2008, and has been named as McCain's National Joint Chief of his campaign committee. Some have speculated that Smith might have a role as an economic adviser in the theoretical McCain government.
Smith was inducted into U.S. Business Achievement Junior at the Hall of Fame in 1998 and for Sales & amp; SMEI; Marketing Hall of Fame in 2000. Other awards include "CEO of the Year 2004" by Chief Executive Magazine and the 2008 Kellogg Award for Distinguished Leadership, presented by Kellogg School of Management on May 29, 2008. He was also awarded the 2008 Bower Award for Business Leadership from The Franklin Institute in Philadelphia, Pennsylvania. He is the recipient of the 2011 Tony Jannus Award for his honorable contribution to commercial aviation.
While FedEx CEO in 2008, Frederick W. Smith earned a total compensation of $ 10,434,589, which included a base salary of $ 1,430,466, cash bonus of $ 2,705,000, $ 0 shares, and $ 5891 option. 575. In June 2009, Smith expressed interest in purchasing a controlling stake (60%) of St. Louis Rams of Chip Rosenbloom and Lucia Rodriguez. In 2009, Frederick W. Smith earned a total compensation of $ 7,740,658, which included a base salary of $ 1,355,028, a $ 0 cash bonus, a $ 0 share, a $ 5,079,191 option, and other compensation of $ 1,306,439.
In March 2014, Fortune Magazine ranked 26th among the list of "50 Greatest World Leaders"
Note
References
- "FedEx Executive Bios". FedEx . Retrieved 2007-01-27 .
- Profile at Innovators Hall of Fame from Fortune Magazine
- Article by Smith about how Fedex came into existence, including the story of the paper he wrote while at Yale.
- USA Today Q & A; A about his love of history
- Chief Executive Magazine Name Fred Smith 2004 CEO of the Year
- "Frederick W. Smith". Executive PayWatch Database . AFL-CIO. Archived from the original on September 4, 2005 . Retrieved December 18 2008 .
- Frock, Roger (2006). Changing How The World Conducts Business: FedEx's Extraordinary Trip to Success - Inside . Berrett-Koehler. ISBN: 1-57675-413-8.
External links
- Appearance in C-SPAN
- Interview
- Frederick W. Smith at Redskins.com
Source of the article : Wikipedia
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