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XPO Logistics announces the address of its new logistics company, which will be listed on the Stock Exchange

It expects to complete the spin-off of its current logistics area in the second half of 2021

MADRID, Jan 12 (EUROPA PRESS) –

XPO Logistics has announced the management team of its new logistics company, which will act independently and will be listed on the stock market, following the spin-off of the company’s current logistics area.

Thus, XPO expects to complete the spin-off in the second half of 2021. Its board of directors will be chaired by Brad Jacobs, who will continue to be the Chairman and CEO of XPO Logistics.

Following the separation, the new company will be the “second largest contract logistics provider in the world”, with a value proposition that includes leading technology, leading solutions in e-commerce, food and beverage and reverse logistics, and the distribution network shared XPO Direct.

XPO’s logistics segment currently has some 20 million square meters of space in 890 locations around the world.

THREE NEW MANAGERS

In this way, Malcolm Wilson, current CEO of XPO Logistics Europe, will become the CEO of the global business of the new company. Wilson, who joined XPO in 2015, has three decades of executive experience managing multinational supply chain operations.

Richard Cawston is XPO’s President of Supply Chain Europe and will continue in this role with the new company. Cawston joined XPO through the acquisition of Norbert Dentressangle in 2015. Initially, he was Managing Director of XPO’s UK and Ireland logistics operations before assuming leadership in Europe.

For his part, Ashfaque Chowdhury is the president of the supply chain for XPO in the Americas and Asia Pacific and will continue in this role with the new company. Chowdhury had more than 20 years of experience with New Breed Logistics when he joined XPO in 2014, where he was initially the head of information systems for the logistics segment.

The president of XPO Logistics, Brad Jacobs, stressed that “this team has worked together for years and is the right one to create growth opportunities for the independent company. They have a long history creating sustainable value for the business through sophisticated operations. , including advanced automation and management of digitized centers. “

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