XPO Logistics Inc. (NYSE:XPO) said Tuesday that Malcolm Wilson, the current CEO of its European operation, will run the newly created logistics company that XPO plans to spin off into a stand-alone business.
Richard Cawston, currently XPO’s president, supply chain logistics-Europe, will continue in the role with the new company, Greenwich, Connecticut-based XPO said. Ashfaque Chowdhury, XPO’s president, supply chain logistics – Americas and Asia Pacific, will also remain in his current role with the new company, XPO said.
Wilson (pictured) joined XPO after it completed its $3.5 billion acquisition of French transport and logistics firm Norbert Dentressangle in 2015. Cawston also joined after the Dentressangle acquisition, while Chowdhury joined after XPO acquired New Breed Logistics, the firm that was headed by current Postmaster General Louis DeJoy, in 2014.
In December, XPO said it would separate its transportation and logistics businesses, and spin off the logistics operations to its shareholders. The initiative is expected to be completed by the end of 2021. Brad Jacobs, XPO’s chairman and CEO, will run the transportation company. XPO President Troy Cooper will have the same role with the transportation company.
At the time the transaction was announced, XPO said the logistics company would be headed by senior executives currently in charge of that business.
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Joe Mantineo
Here we go… back to back to 2001 same ideas drudged up again. I think I saw this movie before?