GXO Adds Jason Papastavrou to Board of Directors

Rhea-AI Summary

On August 2, 2021, GXO Logistics (NYSE: GXO) announced the appointment of Jason Papastavrou, Ph.D., to its board of directors following the company’s spin-off from XPO Logistics (NYSE: XPO). Dr. Papastavrou, previously part of XPO's board, is the founder and chief investment officer of ARIS Capital Management and has extensive experience in the financial sector. With 94,000 team members, GXO is the largest pure-play contract logistics provider, holding only 5% of the $430 billion addressable logistics market in Europe and North America.

Positive

• Appointment of Dr. Jason Papastavrou brings vast financial expertise to the board.
• GXO is the largest pure-play contract logistics provider with a significant workforce.

Negative

• GXO holds only 5% of the large $430 billion logistics market, indicating potential growth challenges.

GREENWICH, Conn., Aug. 02, 2021 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO) announced the appointment of Jason Papastavrou, Ph.D., to its board of directors upon today’s spin-off of the company from XPO Logistics, Inc. (NYSE: XPO). Until the spin-off, Dr. Papastavrou had been a member of the board of directors of XPO.

Dr. Papastavrou is the founder and chief investment officer of ARIS Capital Management, LLC. Previously, he was the founder and managing director of the Fund of Hedge Funds Strategies Group of Banc of America Capital Management (BACAP), president of BACAP Alternative Advisors, and a senior portfolio manager with Deutsche Asset Management. Dr. Papastavrou holds three degrees from the Massachusetts Institute of Technology, including a doctorate in electrical engineering and computer science.

About GXO Logistics
GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider. GXO is committed to providing a world-class, diverse workplace for its 94,000 team members across 869 warehouse locations totaling 208 million square feet. The company partners with the world’s leading blue-chip customers to solve complex logistics challenges with technologically advanced supply chain solutions, at scale and with speed. Despite its market leadership, GXO holds only 5% of the fast-growing $430 billion potential addressable logistics market in Europe and North America. GXO’s corporate headquarters are in Greenwich, Conn., USA. Visit GXO.com for more information, and connect with GXO on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Media Contact

Anne Lafourcade
GXO Logistics
+33 (0)6 75 22 52 90
anne.lafourcade@gxo.com

Investor Contact

Angus Tweedie
GXO Logistics
+44 (0) 7841 530600
angus.tweedie@gxo.com

FAQ

Who is Jason Papastavrou and what is his role at GXO?

Dr. Jason Papastavrou is the recently appointed board member of GXO Logistics, bringing extensive financial expertise.

What does the spin-off from XPO mean for GXO?

The spin-off allows GXO to operate independently as the world's largest pure-play contract logistics provider.

What percentage of the logistics market does GXO hold?

GXO holds only 5% of the $430 billion potential addressable logistics market in Europe and North America.