These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. This 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, including statements relating to the planned spin-off, the expected timing of the spin-off and the anticipated benefits of the spin-off.
Visit xpo.com and for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube. The company’s global network serves 50,000 shippers with approximately 731 locations and 42,000 employees, and is headquartered in Greenwich, Conn., USA. XPO uses its proprietary technology, including the cutting-edge XPO Connect® automated freight marketplace, to move goods efficiently through supply chains. XPO Logistics, Inc. (NYSE: XPO) is a leading provider of freight transportation services, primarily truck brokerage and less-than-truckload (LTL). LLC as its financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Wachtell, Lipton, Rosen & Katz as its legal advisors. To assist with the spin-off process, XPO has retained, BofA Securities, Goldman Sachs & Co. Usage of the RXO name, logo and other brand components will become effective upon the spin-off of RXO, Inc., which XPO expects to complete in the fourth quarter of 2022. The spin-off’s largest component will be truck brokerage, with complementary brokered services for managed transportation, last mile logistics and global forwarding. I’m excited to lead our team to even greater achievements as a tech-enabled pure-play.”Īs previously announced, XPO intends to separate its asset-based less-than-truckload business from its asset-light brokered transportation platform, creating two independent, publicly traded companies with vast growth prospects in North America. RXO will launch with a widely adopted digital platform that gives shippers and carriers the automation they demand. Our best-in-class truck brokerage business will be the keystone of RXO’s asset-light platform, poised to continue to take share of a growing market.”ĭrew Wilkerson, XPO’s president, North American transportation, who has been named to become chief executive officer of RXO, said, “The new brand embodies our competitive positioning of reliable outperformance, propelled by multiple tailwinds.
XPO unveiled the new company’s identity on a landing page, RXO.com, where visitors can register to receive news about the spin-off’s upcoming milestones and leadership appointments.īrad Jacobs, chairman and chief executive officer of XPO Logistics, said, “Our spin-off now has a name - RXO - bringing it one step closer to becoming a standalone industry leader. RXO will go to market with the tagline “Massive capacity. The spin-off is named RXO to reflect the company’s commitment to provide reliability multiplied by outperformance. (NYSE: XPO), a leading provider of freight transportation services, today announced that a new company identity has been created in connection with the planned spin-off of its tech-enabled brokerage platform.
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