[Stay on top of transportation news: Get TTNews in your inbox.]
XPO Logistics Inc. on Jan. 12 announced the senior leadership team for the upcoming spinoff of its logistics segment.
Malcolm Wilson will become CEO of the new logistics business once the transition is complete. Richard Cawston will continue to lead the European logistics business as president. Ashfaque Chowdhury will stay on as president of the North America and Asia logistics units.
“Malcolm, Richard and Ashfaque are highly innovative leaders who are recognized as best-in-class by blue-chip customers,” XPO Logistics Chairman and CEO Brad Jacobs said in a statement.
Malcolm Wilson, CEO of @XPOLogistics_Eu, will be taking the reins of our #logistics segment after its planned #spinoff, with Ashfaque Chowdhury and Richard Cawston supporting him as presidents of the US/Asia-Pacific and European components, respectively. https://t.co/LgqVFh6Ako— XPO Logistics, Inc. (@XPOLogistics) January 12, 2021
XPO last month announced that it would spin off its global contract logistics operations into a publicly traded company. The global transportation business, including less-than-truckload and truck brokerage operations, will continue as its own publicly traded company.
“This team has worked together for years and is ideally suited to unlock the growth opportunities in the stand-alone company,” Jacobs said. “They have a long track record of creating sustainable value in the business through sophisticated operations, including advanced automation and digital warehouse management.”
Wilson, Cawston and Chowdhury will transition to their respective roles, subject to completion of the planned spinoff. XPO expects to complete the transition in the second half of the year. The new logistics business will trade on the New York Stock Exchange once that occurs.
Wilson currently is CEO of XPO Logistics Europe. He has three decades of executive experience managing multinational supply chain operations. XPO said that under his leadership the European logistics business has achieved unprecedented growth and efficiencies.
XPO Logistics ranks No. 1 on the Transport Topics Top 50 list of the largest logistics companies in North America and No. 3 on the Transport Topics Top 100 list of the largest for-hire carriers.
Want more news? Listen to today's daily briefing: