FedEx: Fred Smith and Alan Graf on E-Commerce, Global Trade and Opportunity

The Price-to-Value Podcast with Southeastern Asset Management

In this episode, our Vice-Chairman Staley Cates interviews FedEx’s CEO and Founder Fred Smith and EVP and CFO Alan Graf. They discuss the evolution and growth of e-commerce, the opportunity it presents for FedEx and how the company has positioned itself strategically to take advantage; why Amazon will never “kill FedEx”; the demise of the US Postal Service; the two-player US parcel market (FedEx and UPS) and why FedEx has a better mousetrap; the long-term expected benefits of the TNT acquisition for FedEx’s intercontinental business, despite recent short-term pain; the negative impact of Trump’s trade wars; FedEx’s unique dashboard on the world economy; management’s top three objectives for the business and management succession planning.