Snapshot: XPO Logistics – the picture is neat
Money doesn’t grow on trees, my late grandma used to argue
XPO Logistics has unveiled the executive board for its contract logistics division, scheduled to be separately listed on the New York Stock Exchange this year.
The working name for the new company is XPO NewCo, and Malcolm Wilson (pictured above), currently CEO of XPO Logistics Europe, will become the chief executive of NewCo’s global business.
Mr Wilson has three decades of executive experience managing multinational supply chain operations and joined XPO in 2015 through the company’s acquisition of Norbert Dentressangle, where he was head of the logistics division.
Richard Cawston, XPO president of supply chain logistics in Europe, will continue this role with the new company. He also joined XPO through the Dentressangle acquisition and initially served as MD of XPO’s logistics operations in the UK and Ireland before assuming leadership of the broader European network.
Ashfaque Chowdhury, XPO president of supply chain logistics in the Americas and Asia Pacific, will also continue his role with the new company. He 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.
XPO expects to complete the spin-off in the second half of 2021, creating a separate, publicly traded logistics company. The board will be chaired by Brad Jacobs, who will also continue to serve as chairman and CEO of XPO Logistics.
“Malcolm, Richard and Ashfaque are highly innovative leaders recognised as best-in-class by blue-chip customers,” Mr Jacobs said. “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,” he added.