M&A radar: Kuehne + Nagel & XPO Logistics – you scratch my back…
Even if XPO paid nothing for Kuehne+Nagel’s UK business, the deal was a win-win.
XPO Logistics has announced that Bill Fraine (pictured above) will become the chief commercial officer of GXO Logistics, the intended spin-off of its logistics business.
Mr Fraine will be responsible for leading GXO’s “go-to-market activities, with a focus on aligning growth with long-term value creation when the planned separation is complete”.
Mr Fraine spent 23 years with FedEx and joined XPO in 2011 as head of operations and account management. He currently serves as division president, supply chain – Americas and Asia Pacific, overseeing the integration of several XPO acquisitions and he restructured the businesses in North America by customer vertical.
Brad Jacobs, XPO Logistics chairman and CEO, said, “Bill has all the qualities of a first-rate CCO – and the resumé to back it up. I’m excited to see him lead GXO’s efforts to bolster long-term relationships with existing customers, as well as add new business from other blue-chip companies.”