- 9 June 2021
- Transport / Logistics Services
XPO Logistics has formally filed its Form 10 registration statement to spin off its logistics arm GXO Logistics with the US Securities and Exchange Commission. The company plans to complete the process in the third quarter of 2021.
The plan by XPO is to make GXO a separate publicly traded company that trades on the New York Stock Exchange.
Brad Jacobs, chairman and chief executive officer of XPO Logistics, said: “GXO’s Form 10 public filing is a key step forward in our spin-off plan. The separation will create two pure-play powerhouses in the supply chain industry, XPO in transportation and GXO in logistics, each with enhanced prospects for growth.”
Malcolm Wilson, chief executive officer of XPO Logistics Europe and planned CEO of GXO, added: “GXO will have accelerated momentum out of the gate as an independent company, as reflected in the strong 2022 guidance we issued today. Our growth is being driven by customer demand for outsourcing and for two areas of logistics where we hold leading positions — warehouse automation and e-commerce.”