Less-than-truckload carrier XPO announced Tuesday it has named equity research analyst Ali Faghri its chief strategy officer effective immediately.
Faghri most recently covered the automotive sector as a managing director at investment advisory firm Guggenheim Partners for the past 12 years. At XPO (NYSE: XPO), he will be responsible for the company’s growth strategy and identifying new opportunities.
“Ali is a seasoned analyst with a thorough understanding of our customer verticals and company-specific strengths. His expertise will add considerable value as we execute our growth strategy,” XPO CEO Mario Harik stated in a news release.
Faghri enters at an inflection point for XPO.
Over the last two years, the company has been in the process of selling and spinning off assets to emerge solely as a pure-play LTL carrier. However, the final piece in the restructuring — the sale of its European transportation unit — hit a snag as capital markets abroad softened following a global macroeconomic slowdown. Faghri will likely be tasked with divesting that business at some point in the future.
XPO was successful in taking its brokerage unit RXO (NYSE: RXO) public in November.
Matt Fassler, who held the position for the past four years and was integral in XPO’s breakup, is no longer with the company.
XPO plans to leverage Faghri’s relationships with investors and the financial community.
“Ali brings a wealth of experience and deep relationships with the investor community,” Harik told FreightWaves. “He will help us execute on our growth strategy and communicate our vision in the most impactful way.”
Spot rates decline, contracted rates expected to follow
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