- XPO Logistics (NYSE: XPO) has announced a new company identity created in connection with the planned spin-off of its tech-enabled brokerage platform. These are the details.
XPO Logistics (NYSE: XPO) announced that a new company identity has been created in connection with the planned spin-off of its tech-enabled brokerage platform. This spin-off is named RXO to reflect the company’s commitment to providing reliability multiplied by outperformance. And RXO will go to market with the tagline “Massive capacity. Cutting-edge technology.”
XPO has unveiled the new company’s identity on a landing page RXO.com where visitors are able to register to receive news about the spin-off’s upcoming milestones and leadership appointments.
As previously announced, XPO plans 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. And the spin-off’s largest component will be truck brokerage, with complementary brokered services for managed transportation, last-mile logistics, and global forwarding.
The 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.
KEY QUOTES:
“Our spin-off now has a name — RXO — bringing it one step closer to becoming a standalone industry leader. 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.”
— Brad Jacobs, chairman and chief executive officer of XPO Logistics
“The new brand embodies our competitive positioning of reliable outperformance, propelled by multiple tailwinds. RXO will launch with a widely adopted digital platform that gives shippers and carriers the automation they demand. I’m excited to lead our team to even greater achievements as a tech-enabled pure-play.”
— Drew Wilkerson, XPO’s president, North American transportation, who has been named to become chief executive officer of RXO
