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XPO dubs planned spinoff company GXO, plans to complete transaction later this year

XPO dubs planned spinoff company GXO, plans to complete transaction later this year
The spinoff of XPO Logistics into two completely separate companies — XPO Logistics and GXO Logistics — is expected to be completed during the second half of 2021. (Courtesy: XPO Logistics)

GREENWICH, Conn. — XPO Logistics Inc., which in December 2020 announced plans to spin off the logistics segment of its existing business, on March 18 announced the planned name for the new company — GXO Logistics Inc., with a marketing tagline of “Logistics at full potential.”

“Today, we took an exciting step forward on our path to spinning off our logistics segment,” said Brad Jacobs, chairman and CEO of XPO.

“The new company is called GXO — three letters that stand for the game-changing opportunities we’re bringing to the table for customers, employees and shareholders, with a nod to our XPO heritage,” he continued. “GXO will take this legacy into the future as an independent public company, with countless ways to deliver logistics at full potential.”

Once the planned spinoff is complete, XPO and GXO will operate as separate pure-play businesses, focused separately on transportation and logistics. XPO will remain a global provider of freight transportation, primarily less-than-truckload and truck brokerage, while GXO will be the second largest contract logistics provider in the world.

Malcom Wilson, XPO’s CEO for European operations, has been selected to serve as CEO of the newly formed GXO.

“The new company’s brand identity captures the qualities that make us an industry leader — our ability to deliver faster, leaner, smarter logistics for customers at lower cost, using advanced automation and data science,” Wilson said. “I’m looking forward to leading our global team to the many new opportunities in our future.”

XPO on March 18 also announced it has filed a confidential initial Form 10 registration statement with the U.S. Securities and Exchange Commission for the planned spinoff of its logistics business. The transaction is expected to be completed during the second half of 2021.

The Trucker News Staff

The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.

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The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
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