Sandeep Sakharkar of XPO Logistics Named to Constellation Research’s Business Transformation 150
XPO Logistics (NYSE: XPO) announced the induction of Sandeep Sakharkar, senior VP of logistics technology, into Constellation Research's Business Transformation 150 for 2022. This prestigious recognition highlights leaders in business transformation across various industries. Malcolm Wilson, CEO of XPO Logistics Europe, praised Sakharkar's transformational skills and innovation record. Sakharkar will transition to become CIO of GXO, the logistics segment spun off from XPO, which is set to occur in Q3 2021, marking a significant change in the company's structure.
- Sandeep Sakharkar recognized in Constellation Research's Business Transformation 150 for his leadership.
- Sakharkar's upcoming role as CIO of GXO may enhance technology development and innovation.
- Potential risks associated with the GXO spin-off, such as delays or failure to complete as planned.
GREENWICH, Conn., July 01, 2021 (GLOBE NEWSWIRE) -- XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, today announced that Sandeep Sakharkar, its senior vice president – logistics technology, has been inducted into Constellation Research’s Business Transformation 150 for 2022. The elite list recognizes top global executives from different industries leading business transformation efforts in their organizations.
Malcolm Wilson, chief executive officer of XPO Logistics Europe, said, “We’d like to congratulate Sandeep on this enormous honor. It’s no surprise that his peers – and executives in other industries – recognize his game-changing transformational ability. He has a stellar track record of leading teams to deliver new innovations that drive growth.”
Sakharkar will become chief information officer of GXO, the intended spin-off of XPO’s logistics segment, when the separation is complete. He will lead GXO’s global technology development. He has more than 20 years of executive experience, including roles as global vice president – core retail and infrastructure with Foot Locker, Inc., and EMEA director of digital technology with Johnson & Johnson.
“Forward-thinking organizations recognize that BT150 winners are some of the most sought- after and battle-tested executives in the market,” said R “Ray” Wang, founder and CEO, Constellation Research. “The pandemic created tremendous opportunities for technology and business leaders to kick off and turbocharge their transformation projects.”
Nominations were made by peers, influencers, technology vendors and analysts from various industries.
About XPO Logistics and GXO Logistics
XPO Logistics, Inc. (NYSE: XPO) provides cutting-edge supply chain solutions to the most successful companies in the world, with two business segments: transportation and logistics. The company helps more than 50,000 customers manage their supply chains most efficiently, using a network of 1,621 locations in 30 countries and approximately 140,000 team members, including 108,000 employees and 32,000 temporary workers. The company’s corporate headquarters are in Greenwich, Conn. USA. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.
About the GXO spin-off
XPO intends to spin off its logistics segment in the third quarter of 2021 as GXO Logistics, creating two, pure-play industry powerhouses. The separation would create independent public companies with distinct investment identities and service offerings in vast addressable markets. GXO would be the second largest contract logistics company in the world, and XPO would be a leading provider of transportation services, primarily less-than-truckload transportation and truck brokerage. For more information, visit gxo.com.
Forward-looking Statements
This press 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. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including the statements above regarding plans, benefits and timing of the contemplated spin-off transaction. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the company believes 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 and the following: economic conditions generally; the severity, magnitude, duration and aftereffects of the COVID-19 pandemic and government responses to the COVID-19 pandemic; our ability to align our investments in capital assets, including equipment, service centers and warehouses, to our customers' demands; our ability to implement our cost and revenue initiatives; our ability to successfully integrate and realize anticipated synergies, cost savings and profit improvement opportunities with respect to acquired companies; matters related to our intellectual property rights; fluctuations in currency exchange rates; fuel price and fuel surcharge changes; natural disasters, terrorist attacks or similar incidents; risks and uncertainties regarding the potential timing and expected benefits of the proposed spin-off of our logistics segment, including final approval for the proposed spin-off and the risk that the spin-off may not be completed on the terms or timeline currently contemplated, if at all; the impact of the proposed spin-off on the size and business diversity of our company; the ability of the proposed spin-off to qualify for tax-free treatment for U.S. federal income tax purposes; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; our substantial indebtedness; our ability to raise debt and equity capital; fluctuations in fixed and floating interest rates; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain qualified drivers; labor matters, including our ability to manage our subcontractors, and risks associated with labor disputes at our customers and efforts by labor organizations to organize our employees; litigation, including litigation related to alleged misclassification of independent contractors and securities class actions; risks associated with our self-insured claims; risks associated with defined benefit plans for our current and former employees; and governmental regulation, including trade compliance laws, as well as changes in international trade policies and tax regimes; governmental or political actions, including the United Kingdom's exit from the European Union; and competition and pricing pressures.
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.
Media Contact
XPO Logistics, Inc.
Joe Checkler
+1-203-423-2098
joe.checkler@xpo.com
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