XPO Logistics has a new name for its spin-off focused on logistics services: GXO. The spin-off will continue as an independent, publicly listed company. XPO will remain active as a freight forwarder.
In December, XPO Logistics announced it was splitting into two companies. The idea: two powerful players, each with a clear specialism in their industry. "Separating transport and logistics will create two high-perfoming, pure-play companies," CEO Brad Jacobs said in December. He said the two organisations will be able to respond faster to trends and developments in their respective markets.
XPO provides freight transportation services worldwide, mainly for less-than-truckload transportation and truck contracting. GXO will become the second-largest contract logistics company globally, using the tagline 'Logistics at full potential'. Malcolm Wilson, CEO of XPO Logistics in Europe, has taken office as CEO of GXO.
GXO says - thanks to XPO's years of investment in technology - it is in a strong position to respond to developments in the sector. The company intends to focus on strategic priorities.
