2000 William A. Patterson Transportation Lecture

"Expressing the Future"

Frederick W. Smith
Chairman, President and Chief Executive Officer
FedEx Corporation

Fred Smith, air express pioneer and founder of Federal Express delivered the 2000 Patterson Transportation Lecture. His seminar focused on the air express industry as a primary facilitator of trade worldwide. He explored some of the major forces driving global economic prosperity including the sweeping developments in technology, fast cycle logistics, globalization and the rise of e-commerce. He also offered his personal predictions for the future of the transportation industry.

Frederick W. Smith is chairman, president and chief executive officer of FedEx Corporation, a $17 billion global transportation and logistics holding company that was established on January 27, 1998 when Federal Express Corporation acquired Caliber System Inc..

Smith is responsible for providing strategic direction for all FedEx Corporation operating companies, including FedEx Express, FedEx Ground, FedEx Custom Critical, FedEx Logistics, FedEd Trade Networks and Viking Freight. These FedEx companies serve 210 countries with operations that include 650 aircraft, 64,000 vehicles and over 2,600 facilities. Approximately 200,000 employees and independant contractors worldwide handle an average daily shipment volume of nearly five million items.

Smith founded FedEx Express in 1971 and the company began operations on April 17, 1973.

A leader in regulatory reform, Smith has been an active proponent of global commerce and "open skies agreements" for aviation around the world. In 1976, Smith launched an airline deregulation campaign before Congress, the Department of Transportation and the Civil Aeronautics Board to obtain an air-cargo operating certificate for large aircraft. The following year, President Carter signed air cargo deregulation into law, and passenger airline deregulation soon followed.

Under Smith's leadership, Federal Express has continued to strengthen its industry leadership over the past 27 years with its total commitment to quality service. FedEx was the first service company to win the Malcolm Baldrige National Quality Award in 1990, and in 1994 was the first global express transportation company to receive simultaneous worldwide ISO 9001 certification, with recertification in 1997.

Smith has served on the boards of several large public companies and is formerly chairman of the International Air Transport Association and chairman of the Executive Committee of the U.S. Air Transport Association. He is also a director of the Business Roundtable, CATO Institute, Library of Congress James Madison Council and the Mayo Foundation, and he serves as Vice Chairman of the U.S.-China Business Council.

A native of Marks, Mississippi, Smith attended Yale University, where he earned a bachelor's of science degree in economics in 1966. Smith served as an officer in the U.S. Marine Corps in Vietnam from 1966-1970.