#XPO LOGISTICS GOODWILL WRITEDOWN DRIVER#
#XPO LOGISTICS GOODWILL WRITEDOWN FULL#

^ 'XPO Logistics adds to spin-off firm's leadership team | Midlands Business News'. (NYSE: XPO) is a leading provider of freight transportation services, primarily truck brokerage and less-than-truckload (LTL).^ 'XPO Logistics wins Highways England contract renewal'.^ 'Promethean en XPO Logistics breiden contract uit.^ 'XPO Logistics Announces Senior Leadership for Logistics Segment Spin-Off'.^ 'XPO Investor Presentation February 2020'. (NYSE: XPO) Website Industries Truck Transportation Company size 10,001+ employees Headquarters Greenwich, CT Type Public Company Specialties Freight Brokerage, Expedited.^ 'XPO Investor Presentation July 2021'.^ a b c d e f 'XPO Logistics Completes Spin Off of GXO Logistics'.She was formerly XPO's chief compliance officer. Meagan Fitzsimmons is its chief compliance officer. Mark Manduca is its chief investment officer. He was formerly the CEO of XPO Logistics' European division. Management Īs of April 2023, Malcolm Wilson is the chief executive officer (CEO). GXO's contract logistics customers operate in technology and infrastructure. Operations įollowing 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 m 2) of facility space across 27 countries, making it the largest third-party pure-play contract logistics provider globally. In January 2023, GXO extended its partnership with French manufacturer Groupe SEB. Learn more about truck driving jobs at XPO. The freight transportation services provider swung to a loss.

#XPO LOGISTICS GOODWILL WRITEDOWN DRIVER#

As part of its European expansion target, the company also opened 30 shared warehouse facilities in the UK. Join XPO as a truck driver and move your career forward with one of the industry’s largest transportation companies. posted a loss in the latest quarter due to costs associated with its completed freight brokerage business spin-off. In May 2022, the acquisition by GXO of the UK-based retail logistics company, Clipper Logistics, was announced. As of December 31, 2020, we operated 205 million square feet (19 million square meters) of logistics warehouse space worldwide. The trading of the stock in NYSE started effective August 1, 2021. XPO is the second largest provider of contract logistics globally, with the largest outsourced e-commerce fulfillment platform in Europe, and a major platform for e-fulfillment in North America. The spin-off was completed on August 2, 2021, with American businessman Brad Jacobs as Non-Executive Chairman, Malcolm Wilson as CEO, and Baris Oran as CFO. 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. According to a company official, the split was planned to be completed during the latter half of 2021. 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. GXO's corporate headquarters are located in Greenwich, Connecticut, U.S. A quantitative goodwill impairment test, when performed. XPO Logistics has announced that Troy Cooper (above) stepped down from his role as president on 27 December, although he will continue to work with the company as a senior advisor until the end of June. ( trade name GXO) is an American global contract logistics company that manages outsourced supply chains and warehousing. XPOs Logistics segment after having previously served as Chief Financial Officer of the. In connection with the spin-off, it is expected that the Incentive Grant will be converted into an award relating to GXO common stock based on an adjustment methodology to be approved by the Compensation Committee of the Company's Board of Directors.GXO Logistics, Inc. If approved, the Incentive Grant will be granted to you as soon as practicable following your start date with XPO. A write-down is the reduction in the book value of an asset when its fair market value has fallen below the book value, and thus becomes an impaired asset.

The Incentive Grant is contingent upon the approval of the Compensation Committee of the Company's Board of Directors or its delegate and will be subject to the applicable terms and conditions set forth in XPO's 2016 Omnibus Incentive Compensation Plan (the 'Omnibus Plan') and the applicable award agreement.

#XPO LOGISTICS GOODWILL WRITEDOWN FULL#

Incentive Grant: You will be awarded an initial long-term stock incentive award (the 'Incentive Grant'), which will be granted in the form of 100,000 stock options relating to XPO common stock and will vest in full on the fifth anniversary of the grant date, subject to (i) the occurrence of the spin-off by Maand (ii) your continuous employment with the Company through the fifth anniversary of the grant date if either of these vesting conditions is not satisfied, then the Incentive Grant shall be forfeited.

Xpo logistics goodwill writedown