XPO Logistics Announces Senior Leadership for Logistics Segment Spin-Off
Malcolm Wilson, currently chief executive officer of XPO Logistics Europe, will become CEO of the new company’s global business. Wilson has three decades of executive experience managing multinational supply chain operations. Under his leadership, XPO’s European logistics business has achieved unprecedented growth and efficiencies. Wilson joined XPO in 2015 through the company’s acquisition of industry leader Norbert Dentressangle, where he was head of the logistics division and a member of the executive board. He grew the logistics division to global scale as Norbert Dentressangle’s largest revenue-producing unit.
Richard Cawstonis XPO’s president, supply chain logistics – Europe, and will continue in this role with the new company. Cawston joined XPO through the Norbert Dentressangle acquisition in 2015. He initially served as managing director of XPO’s logistics operations in the UKand Irelandbefore assuming leadership of the broader European logistics network. His 20-year career includes deep expertise in the e-commerce sector, where XPO is the European logistics leader in outsourced fulfillment.
Ashfaque Chowdhuryis XPO’s president, supply chain logistics – Americasand Asia Pacific, and will continue in this role with the new company. Chowdhury had 20 years of senior experience with New Breed Logistics when he joined XPO in 2014, initially serving as chief information officer for the logistics segment. As head of North America, Latin Americaand Asia, he has transformed logistics into a data-driven business and leads the implementation of cutting-edge supply chain solutions for some of the world’s largest companies.
As previously announced, XPO expects to complete the spin-off in the second half of 2021, creating a separate, publicly traded logistics company. Its board of directors will be chaired by
Jacobs said, “Malcolm, Richard and Ashfaque are highly innovative leaders who are recognized as best-in-class by blue-chip customers. This team has worked together for years, and is ideally suited to unlock the growth opportunities in the standalone company. They have a long track record of creating sustainable value in the business through sophisticated operations, including advanced automation and digital warehouse management.”
Post-separation, the new company will be the second largest contract logistics provider in the world, with a value proposition that includes cutting-edge technology, leading capabilities in e-commerce, food and beverage, consumer electronics, industrial and reverse logistics, and the XPO Direct shared distribution network. XPO’s logistics segment currently has approximately 212 million square feet (20 million square meters) of space at 890 locations worldwide.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including the statements above regarding plans, benefits and timing of the contemplated spin-off transaction. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the company believes are appropriate in the circumstances.
These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors (including risks, uncertainties and assumptions) that might cause or contribute to a material difference include the expected benefits and costs of the intended spin-off transaction, the expected timing of the completion of the spin-off transaction and the transaction terms, the risks discussed in our filings with the
Source: XPO Logistics, Inc.