XPO Logistics Splits into Two Independent Companies

XPO Logistics will part into two independent organizations, as indicated by a announcement Wednesday. The move is set to be finished in the second half of 2021.

At the point when the move is finished, one entity, called XPORemainCo, will be a worldwide LTL carrier and transport broker. The other, called NewCo, will be a contract logistics provider, the declaration said. Each is required to exchange on the New York Stock Exchange.

Bradley Jacobs will serve as chairman and CEO of XPORemainCo and will become chairman of the NewCo board, and Troy Cooper will serve in as president, ought to the spinoff be finished as arranged.