XPO Logistics announced GXO Logistics, the title of the firm’s logistics alternate it plans to lumber-off as an impartial public firm.
GXO will get a tackle its strategic priorities and blue-chip buyer dejected, with a standalone equity currency to make long-time length price for its stakeholders.
“The unique firm’s stamp identity captures the qualities that make us one more leader — our ability to raise faster, leaner, smarter logistics for purchasers at decrease designate, the insist of developed automation and info science,” stated Malcolm Wilson, XPO’s chief executive officer – Europe, who will turn out to be CEO of GXO. “I’m taking a peep forward to main our global team to the many unique opportunities in our future.”
In December 2020, XPO announced its intent to lumber off the logistics section of its present alternate and make two companies centered one after the other on transportation and logistics. Post-separation, XPO will remain a global provider of freight transportation, essentially less-than-truckload and truck brokerage, and GXO might perchance well be the 2nd biggest contract logistics provider on the earth, XPO officials stated in a press launch.