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2004 Press Releases
Peer-level readers and judging panel of blue-chip executives cite global leadership, continuing innovation, corporate responsibility and integrity as reasons for choice
TAIPEI, June 4, 2004. Frederick W. Smith, chairman, president and CEO of FedEx Corp. (NYSE: FDX), has been named Chief Executive of the Year for 2004 by his peers in the executive suite. After a poll of 42,000 peer-level readers of Chief Executive Magazine and a final choice made by a judging panel of corporate luminaries, Mr. Smith was recognized for building a $25 billion company that virtually invented an entire industry, transformed other sectors as diverse as manufacturing, retail and transportation and heightened expectations of globalization. Past recipients of this award, which has been given out for the last 18 years, include Michael Dell of Dell Computer; Herb Kelleher of Southwest Airlines; Andrew Grove of Intel; Roberto C. Goizueta of Coca-Cola; John F. Welch of General Electric and, most recently, Maurice Greenberg of American International Group.
"Fred Smith embodies all of the elements that go into being a great CEO-management vision, corporate integrity and executive skill-and we're thrilled with the choice," said Ed Kopko, CEO and publisher of Chief Executive Magazine, the leading source of intelligence for and about CEOs. "Our judges have always maintained a very high standard in selecting the recipient of the Chief Executive of the Year award, and Fred clearly continues that tradition."
The selection process began with the readers of Chief Executive magazine submitting their own nominees for the award, a list containing nearly 150 names. From that list, a dozen from a broad range of industries were submitted to the blue-ribbon judging panel, which was chaired by last year's winner Maurice Greenberg of American International Group and included Joe Tucci of EMC Corp.; Pat Russo of Lucent; Kevin Rollins of Dell Computer; Sanford Weill of Citigroup; Klaus Kleinfeld of Siemens; Sharon Allen of Deloitte Touche Tohmatsu; and Scott Serota of Blue Cross Blue Shield. The judges based their final selection on a variety of stringent criteria, such as long-term company performance (including analytical data provided on commission by Stern Stewart), operational excellence, global leadership, continuous innovation, corporate responsibility, resilience, integrity and consistency.
The cover story in the June issue of Chief Executive includes an interview with Mr. Smith, who founded what was then known as Federal Express back in 1971 and has used continuing innovation to build it into a worldwide behemoth with 240,000 employees and operations in 215 countries, including Afghanistan and Iraq. Far from being a competitor of the U.S. Postal Service, for example, FedEx now handles $1 billion worth of Postal Service shipments a year, making it, in an odd twist, the company's single largest customer. In fact, FedEx is now really four distinct companies: FedEx Express, FedEx Ground, FedEx Freight and FedEx Kinko's. Each has considerable autonomy, yet through Mr. Smith's vision, all of the parts are seamlessly integrated.
"Fred Smith has all of the qualities I've seen in the very best CEOs," said Chief Executive Magazine Editor in Chief William J. Holstein, who interviewed Mr. Smith for the cover story. "He has a very clear strategic vision about where he wants the company to go, and is also comfortable finding good managers to whom he can delegate authority." The story, which appears in the June issue of Chief Executive Magazine, can also be found at www.chiefexecutive.net.
Chief Executive Magazine, now in its 26th year, is designed for corporate leaders to find the tools and information they need to direct complex, global organizations. The magazine features the latest information on leadership concerns, fresh ideas, and strategies, while also covering the human side of being a CEO. Recent issues have provided in-depth analysis on topics ranging from CEO compensation and diversity in the executive suite to outsourcing and globalization.
About Chief Executive
Chief Executive is a controlled circulation magazine that reaches 42,000 chief executive officers and their peers. It is published 10 times a year and reaches a total readership of 143,000. Chief Executive also organizes roundtable meetings and conferences to foster opportunities for top corporate officers to discuss key subjects and share their experiences within a community of peers. Visit www.chiefexecutive.net for more information.
About FedEx
FedEx Corp. provides customers and businesses worldwide with the broadest portfolio of transportation, e-commerce and business services. With annual revenues of $25 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx and Kinko's brands. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 240,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities.
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