GXO (company)

GXO Logistics, Inc. (trade name GXO) is an American global contract logistics[1] company that manages outsourced supply chains and warehousing.[3] GXO's corporate headquarters are located in Greenwich, Connecticut, U.S.[4]

GXO Logistics, Inc.
TypePublic company
PredecessorXPO Logistics
FoundedAugust 2, 2021 (2021-08-02)
HeadquartersGreenwich, Connecticut, U.S.
Number of locations
869[1] (2021)
Key people
  • Brad Jacobs
    (Non-Executive Chairman)
  • Malcolm Wilson (CEO)
  • Baris Oran (CFO)
RevenueIncrease US$7 billion (2021)
Number of employees
84,000[1] (2021)
Websitegxo.com
Footnotes / references
[2]

History

In December 2020, XPO Logistics announced that it would spin off its global contract logistics segment into a separate pure play company and temporarily named it NewCo. According to a company official, the split was planned to be completed during the latter half of 2021.[5] On March 18, 2021, XPO announced the new name of the firm as GXO Logistics Inc following the submission of the Form 10 to the U.S. Securities and Exchange Commission.[6] The spin-off was completed on August 2, 2021,[1] with American businessman Brad Jacobs as Non-Executive Chairman, Malcolm Wilson as CEO,[1] and Baris Oran as CFO.[7][8] The trading of the stock in NYSE started effective August 1, 2021.[9][lower-alpha 1]

In May 2022, the acquisition by GXO of the UK-based retail logistics company, Clipper Logistics, was announced.[10][11] As part of its European expansion target, the company also opened 30 shared warehouse facilities in the UK.[12]

In January 2023, GXO extended its partnership with French manufacturer Groupe SEB.[13]

Operations

Following the split in August 2021 from its erstwhile firm XPO Logistics, GXO Logistics had approximately 94,000 employees and operates 869 warehouses with more than 208 million sq ft (19.3 million m2) of facility space across 27 countries,[1] making it the largest third-party pure-play contract logistics provider globally.[14][15][16] GXO's contract logistics customers operate in retail, e-commerce, technology,[17] aerospace, telecom,[18] food and beverage,[19] healthcare,[20] agriculture and infrastructure.[21]

Technology

A number of IT professionals and data scientists work at GXO in the fields of automation and intelligent machines, forecasting demand, predictive analytics, pricing algorithms, and workforce planning.[22][23] GXO’s clients include Saks Fifth Avenue. In 2021, its e-commerce subsidiary, Saks, contracted GXO as the provider of collaborative robots and a shared-space distribution network.[24]

Management

As of April 2023, Malcolm Wilson is the chief executive officer (CEO). He was formerly the CEO of XPO Logistics' European division. Mark Manduca is its chief investment officer.[1] Meagan Fitzsimmons is its chief compliance officer. She was formerly XPO's chief compliance officer.[25][7]

See also

Notes
  1. August 1, 2021 fell on Sunday on which the trading does not happen at NYSE and thus the trading started the day after on August 2.

References
  1. "XPO Logistics Completes Spin Off of GXO Logistics". supplychaindigital.com. 2021-08-02. Retrieved 2023-04-09.
  2. "XPO Investor Presentation July 2021". XPO Logistics. Retrieved 2 August 2021.
  3. "XPO Investor Presentation July 2021". xpo.com. July 28, 2021. Retrieved August 2, 2021.{{cite web}}: CS1 maint: url-status (link)
  4. "GXO Logistics, Inc". SEC.gov. June 9, 2021. Retrieved August 2, 2021.{{cite web}}: CS1 maint: url-status (link)
  5. Berman, Jeff. "Spin-off of GXO Logistics from XPO Logistics is a done deal". Logistics Management. Retrieved 2023-04-09.
  6. Sharkey, Grace. "XPO Announces Logistics Spinoff GXO". Freightwaves. Retrieved 19 March 2021.
  7. "GXO Company Profile & Executives - GXO Logistics Inc. - Wall Street Journal". www.wsj.com. Retrieved 2023-04-09.
  8. "XPO Logistics Announces Second Quarter 2021 Results". July 28, 2021. Retrieved August 2, 2021.{{cite web}}: CS1 maint: url-status (link)
  9. "XPO Logistics announces the completion of its GXO Logistics spin-off". Trans.INFO. Retrieved 2023-04-09.
  10. "GXO completes Clipper Logistics acquisition following court approval | Financial News". www.lse.co.uk. Retrieved 2022-05-24.
  11. "GXO eyes improved 'returns' as Clipper buy can boost reverse logistics offering". Loadstar. 9 November 2022. Retrieved 12 November 2022.
  12. Daleo, Jack (2023-03-28). "GXO Direct launches in UK with plans for future European expansion". FreightWaves. Retrieved 2023-04-03.
  13. Millett, Carol (2023-01-23). "GXO extends partnership with French manufacturer Groupe SEB". Motor Transport. Retrieved 2023-01-30.
  14. Wolf, Connor (July 13, 2021). "XPO Spinoff GXO to Go Public Aug. 2". Transport Topics. Retrieved August 2, 2021.{{cite web}}: CS1 maint: url-status (link)
  15. "XPO Investor Presentation February 2020".|
  16. "XPO Logistics Announces Senior Leadership for Logistics Segment Spin-Off". Globe Newswire. Jan 12, 2021. Retrieved Feb 2, 2021.
  17. "Promethean en XPO Logistics breiden contract uit • TTM.nl". TTM.nl (in Dutch). 2017-08-02. Retrieved 2017-10-22.
  18. "JLG places XPO Logistics in charge of aftermarket parts distribution, will close Ohio distribution center". Equipment World. Retrieved 2017-10-22.
  19. Pegden, Tom (2017-09-10). "Revealed: Nestlé 'planning vast new county warehouse'". leicestermercury. Retrieved 2017-10-22.
  20. "XPO wins contract with VWR International - Logistics Manager". Logistics Manager. 2017-07-27. Retrieved 2017-10-22.
  21. "XPO Logistics wins Highways England contract renewal". CILT(UK). Retrieved 2017-10-22.
  22. DePillis, Lydia (15 July 2019). "America's addiction to absurdly fast shipping has a hidden cost". CNN. Retrieved 24 July 2019.
  23. Stinson, Jim (12 March 2019). "XPO Installs Two Tech Platforms to Meet Freight Challenges". Transport Topics. Retrieved 24 July 2019.
  24. Weinswig, Deborah; Hartmann, Renee (2023). Next Generation Retail: How to Use New Technology to Innovate for the Future. London: Kogan Page Publishers. p. 262. ISBN 978-1-3986-0964-8.
  25. "XPO Logistics adds to spin-off firm's leadership team | Midlands Business News". Insider Media Ltd. Retrieved 2023-04-09.
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