XPO Logistics Stock (XPO): Why The Price Fell Today

By Amit Chowdhry ● Jan 3, 2022
  • The stock price of XPO Logistics Inc (NYSE: XPO) fell by over 0.8% after hours today. This is why it happened.

The stock price of XPO Logistics Inc (NYSE: XPO) fell by over 0.8% after hours today. Investors are responding negatively to XPO Logistics announcing that Troy Cooper has stepped down from his role as president, effective December 27, 2021. Cooper will continue working with the company as a senior advisor through June 30, 2022.

KEY QUOTES:

“With the spin-off of GXO earlier this year, and in light of the progress we’ve made transforming XPO into a pure-play transportation company, Troy and I agreed this was a natural time for him to step down. Troy’s contributions over the past decade have been invaluable, particularly his efforts driving the growth of our best-in-class truck brokerage business from its earliest days and his

“We’re very well positioned with strong leaders in each of our business lines, with Mario Harik as acting president of less-than-truckload, Drew Wilkerson leading North America transportation, and Luis Gomez leading Europe transport. I’m grateful Troy will continue to provide counsel to me and our leadership team over the next six months, and we wish him all the very best going forward.” leadership of our European operations from 2015 to 2017.”

— Brad Jacobs, chairman and chief executive officer

“It’s been an honor to work with the team as we’ve built XPO into a leading freight transportation services provider. The leadership team we’ve assembled is the best in the industry, and it’s gratifying knowing that the business is in excellent hands and our prospects are so bright.”

— Troy Cooper

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.