XPO Logistics completes GXO spin-off, announces board of directors

Connecticut-based trucking company XPO Logistics has officially completed the spin-off of its global logistics segment, GXO Logistics.

The spin-off creates two independent, publicly traded companies, with GXO as the world’s largest contract logistics provider.

Post-separation, XPO will be focusing on less-than-truckload and truck brokerage, while GXO will provide contract logistics services.

In a statement, GXO CEO Malcolm Wilson said the spin-off was an exciting milestone in GXO’s history.

“We consider it a privilege to launch GXO as a new company at the top of the industry — the world’s largest pure-play logistics provider,” Wilson said.

“We have a powerful platform for future growth, including our culture of innovation, strong customer relationships, seasoned leaders and a world-class team. This is day one of unlocking vast new potential for our company,” he said.

GXO launches with approximately 94,000 team members worldwide and more than 208 million square feet of warehouse space in 869 locations across 27 countries.

Following the spin-off, XPO has also appointed a new slate of directors, replacing those who resigned from the XPO board to join the GXO board.

XPO Chief Executive Officer Brad Jacobs will continue as chairman, while AnnaMaria DeSalva and Michael Jesselson will remain in the roles of vice chairman and lead independent director, respectively, and Adrian Kingshott will continue to serve as director.

The new XPO directors are:

Jason Aiken, chief financial officer of General Dynamics Corporation, and former CFO of Gulfstream Aerospace Corporation, a General Dynamics subsidiary.

Mary Kissel, executive VP and senior policy advisor with Stephens Inc., former senior advisor to the US Secretary of State, and formerly with The Wall Street Journal as a member of the Editorial Board and editorial page editor for APAC.

Allison Landry, former senior transportation research analyst with Credit Suisse, covering the trucking, railroad, airfreight and logistics industries.

Johnny C. Taylor, Jr., CEO of the Society of Human Resources Management (SHRM), and former senior executive with IAC/Interactive Corp, Viacom’s Paramount Pictures and Blockbuster Entertainment Group, among others.

“We’ve added four outstanding independent directors to the wealth of experience we retained following the spin-off,” said Brad Jacobs, CEO & Chairman of XPO.

“This is our most diverse board composition yet, with an emphasis on the financial, cultural and market opportunities of our business. Our growth strategy will have powerful support,” Jacobs said.