XPO Logistics Announces Jamie Harris as Chief Financial Officer for RXO Spin-Off
September 07 2022 - 7:00AM
XPO Logistics, Inc. (NYSE: XPO), a leading provider of
freight transportation services, today announced that JamieHarris
will become chief financial officer of RXO, the planned spin-off of
XPO’s brokered transportation platform. Harris will join XPO
as chief financial officer of the North American
transportation division, effective September 26, 2022, and will
lead RXO’s finance operations when the separation is
complete. He will report to Drew Wilkerson, who, as
previously announced, will be chief executive officer of RXO, and
currently serves as president, transportation – North America.
Harris is a career CFO with 35 years of
accomplishments in B2B sectors, including two decades with public
companies. He joins XPO from global manufacturer SPX Technologies,
where he served as CFO and treasurer. Prior to SPX, Harris was CFO
and interim CEO with Elevate Textiles, Inc., and CFO with Coca-Cola
Consolidated, the largest independent Coca-Cola franchisee in the
United States. He began his career with Ernst & Young
LLP. Harris holds a master’s degree in business administration
from Wake Forest University and a bachelor’s degree in accounting
from Appalachian State University, where he currently serves on
the board of trustees.
XPO further announced that David Murray has joined
XPO’s North American transportation division as vice president,
financial shared services, effective immediately, and will continue
to lead financial shared services while serving as treasurer of RXO
once the spin-off is complete. Murray’s 22-year career includes
positions as head of financial planning and analysis with IAC
Group, and assistant treasurer with The Mosaic Company. Earlier, he
served in senior roles with General Motors Corporation, primarily
in treasury. He holds a bachelor’s degree and a master’s degree in
business administration from the Stephen M. Ross School of Business
at the University of Michigan, and is a certified public
accountant.
Wilkerson said, “In Jamie, we have a veteran CFO
who will align our financial strategy with our rapid growth, while
David adds key bench strengths. Our RXO C-suite is now nearly
complete. I’m extremely pleased with the strong leadership team
we’ve created to move our brokerage business toward the planned
spin-off as a separate public company.”
As previously announced, XPO intends to spin off
its asset-light brokered transportation platform from its
asset-based less-than-truckload business, creating two separate,
publicly traded companies with vast growth prospects in North
America. XPO expects to complete the spin-off in the fourth
quarter of 2022. Visit www.rxo.com for more
information.
About XPO LogisticsXPO Logistics,
Inc. (NYSE: XPO) is a leading provider of freight
transportation services, primarily less-than-truckload (LTL) and
truck brokerage. XPO uses its proprietary technology, including the
cutting-edge XPO Connect® automated freight marketplace, to move
goods efficiently through supply chains. The company’s global
network serves 50,000 shippers with approximately 749 locations and
43,000 employees, and is headquartered in Greenwich, Conn.,
USA. Visit xpo.com and europe.xpo.com for more
information, and connect with XPO
on Facebook, Twitter, LinkedIn, Instagram and YouTube.
Forward-looking StatementsThis
release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including
statements relating to the planned spin-off, the expected timing of
the transaction and the anticipated benefits of the transaction.
All statements other than statements of historical fact are, or may
be deemed to be, forward-looking statements.
These forward-looking statements are based on
certain assumptions and analyses made by us in light of our
experience and our perception of historical trends, current
conditions and expected future developments, as well as other
factors we believe are appropriate in the circumstances. These
forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions that may cause actual results, levels
of activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by such forward-looking
statements. Factors that might cause or contribute to a material
difference include the risks discussed in our filings with the SEC,
which may be accessed on the investor page of our
website.
All forward-looking statements set forth in this
release are qualified by these cautionary statements and there can
be no assurance that the actual results or developments anticipated
by us will be realized or, even if substantially realized, that
they will have the expected consequences to or effects on us or our
business or operations. Forward-looking statements set forth in
this release speak only as of the date hereof, and we do not
undertake any obligation to update forward-looking statements to
reflect subsequent events or circumstances, changes in expectations
or the occurrence of unanticipated events, except to the extent
required by law.
The spin-off remains subject to various
conditions, including the effectiveness of the Form 10 registration
statement, receipt of a tax opinion from counsel, the refinancing
of XPO’s debt on terms satisfactory to the XPO board of directors,
and final approval by the XPO board of directors, among other
requirements. There can be no assurance that the planned spin-off
will occur or, if it does occur, the terms or timing.
Investor ContactTavio
Headley+1-203-413-4006tavio.headley@xpo.com
Media ContactNina
Reinhardt+1-980-408-1594nina.reinhardt@xpo.com
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