XPO Logistics Announces Two Senior Executive Appointments for Planned Spin-Off of GXO Logistics
XPO Logistics has announced two key executive appointments ahead of its planned spin-off of the logistics business into GXO Logistics. Eduardo Pelleissone will serve as president for the Americas and Asia Pacific, and Neil Shelton has been appointed as chief strategy officer. Pelleissone brings over 20 years of experience from companies like Kraft Heinz and America Latina Logistica, while Shelton has a strong background in investment strategy from firms like JP Morgan. The spin-off is set for Q3 2021, creating two independent public companies focused on logistics and transportation.
- Appointment of Eduardo Pelleissone, enhancing leadership with his 20+ years in logistics.
- Neil Shelton's experience in investment strategy may attract global investors to GXO.
- GXO positioned to benefit from e-commerce growth and logistics automation.
- Completion of the spin-off is subject to conditions, with uncertainty in timing.
- Risks associated with the spin-off could affect future business size and diversity.
- Potential issues in aligning capital investments with customer demands post-spin-off.
Eduardo Pelleissone Named President, Americas and Asia Pacific
Neil Shelton Named Chief Strategy Officer
GREENWICH, Conn., June 08, 2021 (GLOBE NEWSWIRE) -- XPO Logistics, Inc. (NYSE: XPO) today announced two more appointments to the executive team of GXO Logistics, the intended spin-off of XPO’s logistics business. Eduardo Pelleissone has been named president of GXO’s operations in the Americas and Asia Pacific, and Neil Shelton has been named chief strategy officer. The positions become effective upon the completion of the spin-off, which is expected to occur in the third quarter of this year.
Eduardo Pelleissone has more than 20 years of experience leading multinational operations in the food, logistics and transportation industries. He joined XPO in 2020 as chief transformation officer, after previously serving as executive vice president of global operations and chief operating officer for Kraft Heinz Company. Earlier, he held roles as chief executive officer and chief operating officer for rail logistics leader America Latina Logistica SA (ALL). Pelleissone has a master’s degree in logistics, operations and services from COPPEAD Graduate School of Business in Brazil. He recently replaced Ashfaque Chowdhury as president of XPO’s logistics business in the Americas and Asia Pacific.
Neil Shelton will utilize his experience working with top investment firms to engage with GXO’s global investor audience about the company’s strategy and growth opportunities. His 25-year career includes head of technology, media and telecom specialist sales at JP Morgan Chase in London, and earlier roles at Credit Suisse, Citigroup and Arthur Andersen. Shelton has led several research teams to No. 1 rankings and been regularly ranked No. 1 for specialist sales by Institutional Investor, and has piloted more than 10 IPOs, including Autotrader, Cellnex, Delivery Hero, Hello Fresh and Zalando in Europe. He holds a degree in industrial economics from the University of Nottingham in Great Britain.
Brad Jacobs, chairman and chief executive officer of XPO Logistics, said, “Eduardo and Neil are experts in their fields, with strong track records of delivering results for companies across the globe. We’re pleased to add these two accomplished executives to GXO’s leadership team.”
As previously announced, XPO expects to spin off its logistics business as a separate, publicly traded company. As the second largest contract logistics provider in the world, GXO will be well-positioned to capitalize on the big three secular tailwinds of e-commerce growth, customer demand for logistics automation and the burgeoning trend toward supply chain outsourcing. The business currently includes approximately 885 logistics locations in 27 countries. Completion of the spin-off is subject to various conditions, and there can be no assurance that the transaction will occur or, if it does occur, of its terms or timing.
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, 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.
About the 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.
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 executives were appointed by XPO Logistics in June 2021?
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