XPO Logistics is lining up a leadership team for its planned spin-off company GXO.
The $16 billion global business is planning to hive off its warehousing and e-commerce operations – which account for around 38 per cent of its global operations – into a new business called GXO Logistics, Inc.
The remaining XPO business will manage its rail and road transport and truck brokerage operations, and will remain, what the company says is, the second biggest contract logistics business in the world.
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XPO Logistics, which has its 海角视频 headquarters in Northampton, hopes the plans will be finalised by the end of the year.
No announcement has been made yet on what will happen to the East Midlands base.
XPO’s global warehousing and logistics services – including a new £55 million “Digital Distribution Centre of the Future” for Nestle in Leicestershire – have a turnover of around $6.2 billion and employ 67,000 people in 27 countries.
Those operations cover around 212 million sq ft of space at 890 locations worldwide, which will become part of GXO Logistics.
Its transport business employs 39,000 people in 18 countries and has turnover of around $10.2 billion.
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When the move goes ahead, GXO will become a publicly traded company in its own right, capitalising on the “major tailwinds of e-commerce expansion, customer demand for logistics automation and a burgeoning trend toward supply chain outsourcing”.
XPO has lined up the following to run GXO:
Malcolm Wilson, currently chief executive officer of XPO Logistics Europe, will become CEO of the new global business.
Richard Cawston, who is XPO’s president for supply chain logistics in Europe, will continue in that role with the new company
Ashfaque Chowdhury, who is XPO’s president for supply chain logistics in the Americas and Asia Pacific, will also continue in that role with the new company
Sandeep Sakharkar will become the chief information officer of GXO Logistics, Inc. He currently serves as XPO’s senior vice president for logistics technology.
Baris Oran will become the chief financial officer of GXO Logistics, Inc. He will join XPO as chief financial officer of the logistics segment in May, and will lead GXO’s global finance organisation when the planned separation is complete.
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GXO’s board of directors will be chaired by Brad Jacobs, who will continue to serve as chairman and chief executive of XPO Logistics
Mr Jacobs said separating the two companies would allow each to concentrate on their relevant sectors.
He said the new name was a nod to the XPO heritage.
He said: “GXO will take this legacy into the future as an independent public company, with countless ways to deliver logistics at full potential.
“Our GXO leadership team now has five world-class executives, with more to follow.”
XPO’s global corporate headquarters are in Greenwich, Connecticut, USA, and its European headquarters are in Lyon, France.