Greenwich, Conn. – WEBWIRE – Thursday, July 22, 2021
XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, today announced that Karlis Kirsis has been appointed chief legal officer for GXO Logistics, Inc., the intended spin-off of XPOs logistics business. Kirsis currently serves as senior vice president, European chief legal officer for XPO Logistics Europe. He will be responsible for GXOs legal and compliance functions, including corporate governance, litigation and commercial matters.
Kirsis joined XPO in 2016 as vice president, corporate and securities counsel, and subsequently served as senior vice president, corporate counsel. Previously, he spent 10 years as a senior corporate associate in New York and London for Skadden, Arps, Slate, Meagher & Flom LLP, where he executed global M&A and corporate finance transactions. He holds a juris doctorate from New York University School of Law and a bachelors degree from Amherst College.
Brad Jacobs, chairman and chief executive officer of XPO Logistics, said, Karliss extensive experience in world-class corporate and legal environments, and the supply chain industry in particular, will be significant assets to GXO. He will help align the companys legal functions with its strategic, game-changing goals.
As previously announced, XPO expects to spin off its logistics business as a separate, publicly traded company on August 2, 2021. As the largest pure-play contract logistics provider in the world, GXO will be well-positioned to capitalize on the big three secular tailwinds of e-commerce growth, customer demand for logistics automation and the burgeoning trend toward supply chain outsourcing. The business currently includes approximately 885 logistics locations in 27 countries.
About the GXO Spin-Off
XPO expects to spin off its logistics segment on August 2, 2021, creating two, pure-play industry powerhouses. The separation will create two independent public companies with distinct investment identities and service offerings in vast addressable markets. GXO will be the largest pure-play contract logistics provider in the world, and XPO will be a leading provider of transportation services, primarily less-than-truckload transportation and truck brokerage. Completion of the spin-off is subject to various conditions, and there can be no assurance that the transaction will occur or, if it does occur, of its terms or timing. Visit gxo.com for more information.
About XPO Logistics
XPO Logistics, Inc. (NYSE: XPO) provides cutting-edge supply chain solutions to the most successful companies in the world, with two business segments: transportation and logistics. The company helps more than 50,000 customers manage their supply chains most efficiently, using a network of 1,621 locations in 30 countries and approximately 140,000 team members, including 108,000 employees and 32,000 temporary workers. The companys corporate headquarters are in Greenwich, Conn., USA. Visit xpo.com
This press 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. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including the statements above regarding plans, benefits and timing of the contemplated spin-off transaction. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as anticipate, estimate, believe, continue, could, intend, may, plan, potential, predict, should, will, expect, objective, projection, forecast, goal, guidance, outlook, effort, target, trajectory or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the company believes are appropriate in the circumstances.