XPO Logistics Announces Maryclaire Hammond as Chief Human Resources Officer for GXO Logistics Spin-Off

Rhea-AI Summary

XPO Logistics has appointed Maryclaire Hammond as the chief human resources officer for GXO Logistics, its upcoming logistics spin-off. Hammond, who has over 20 years of HR experience, will focus on employee engagement and champion diversity. The spin-off is expected to occur in the second half of 2021, positioning GXO as a leading player in logistics amid the e-commerce boom. Currently, XPO operates 1,629 locations across 30 countries, serving over 50,000 customers.

Positive

• Appointment of a seasoned HR professional, Maryclaire Hammond, could enhance employee engagement and diversity efforts at GXO.
• The spin-off is expected to position GXO to capitalize on e-commerce growth and logistics outsourcing trends.

Negative

• Uncertainty regarding the final timing and approval of the logistics spin-off could affect investor confidence.
• The spin-off may impact XPO's size and business diversity, raising concerns about future performance.

GREENWICH, Conn., April 29, 2021 (GLOBE NEWSWIRE) --  XPO Logistics, Inc. (NYSE: XPO) today announced that Maryclaire Hammond will become the chief human resources officer of GXO Logistics, Inc., the intended spin-off of XPO’s logistics business. She will be responsible for GXO’s human resources organization when the planned separation is complete. Hammond’s priorities will include an intense focus on employee engagement, as well as championing diversity, equity and inclusion. She will be based at GXO headquarters in London.

Hammond joined XPO in 2019 as senior vice president, human resources – Americas and Asia Pacific and oversees the employment culture of more than 22,000 employees in XPO’s logistics business. She has more than 20 years of human resources experience with Fortune 100 companies, including BP, where she served as human resources director for BP Fuels, North America. Previously, she was vice president, human resources for Honeywell Turbo Technologies in Switzerland and spent 14 years working in the UK.

Hammond holds an MBA from the University of Portsmouth, a master’s degree in foreign languages and literature from Washington State University and a bachelor’s degree in Spanish and history from Hillsdale College.

Brad Jacobs, chairman and chief executive officer of XPO Logistics, said, “Maryclaire is a consummate human resources professional who understands how important our people are to our organization’s success. We’re very pleased to add her to GXO’s superb management team as the spin-off plan progresses.”

As previously announced, XPO expects to spin off its logistics business as a separate, publicly traded company in the second half of 2021. As the second largest contract logistics provider in the world, GXO will be well-positioned to capitalize on major tailwinds of e-commerce expansion, customer demand for logistics automation and a burgeoning trend toward supply chain outsourcing. The operations currently include approximately 890 locations in 27 countries.

About XPO Logistics

XPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of cutting-edge supply chain solutions to the most successful companies in the world. The company operates as a highly integrated network of people, technology and physical assets in 30 countries, with 1,629 locations and more than 100,000 employees. XPO uses its network to help more than 50,000 customers manage their goods most efficiently throughout their supply chains. XPO's corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.

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.

Investor Contact
XPO Logistics, Inc.
Tavio Headley
+1-203-413-4006
tavio.headley@xpo.com

Media Contact
XPO Logistics, Inc.
Joe Checkler
+1-203-423-2098
joe.checkler@xpo.com

FAQ

What is the significance of Maryclaire Hammond's appointment for XPO?

Maryclaire Hammond's appointment as chief human resources officer will focus on employee engagement and diversity within GXO Logistics, the spin-off from XPO.

When is XPO planning to spin off its logistics business?

XPO expects to spin off its logistics business as a separate publicly traded company in the second half of 2021.

How many locations does XPO Logistics operate worldwide?

XPO Logistics operates 1,629 locations across 30 countries.

What role will GXO Logistics play in the market?

GXO Logistics is positioned to become the second largest contract logistics provider, capitalizing on trends in e-commerce and logistics automation.

What are the potential risks associated with the spin-off of XPO's logistics business?

Potential risks include uncertainty around the timing of the spin-off and its impact on XPO's business diversity and performance.