Fred Smith pioneered the overnight delivery business when he founded the company in 1971. Mr. Smith, a former Marine officer and decorated Vietnam War veteran, started FedEx in 1971 and has been CEO for nearly its whole history. The arrangement worked well, but Mr. Smith said he was growing worried about his partner. It also is deepening ties with the Postal Service, including by tapping the postal delivery fleet to help roll out home delivery on Sundays. The FedEx board changed its retirement rules to let Mr. Smith stay on after he turned 75 in August.

Source: Wall Street Journal October 17, 2019 14:48 UTC