Dive Brief:
- XPO and GXO Logistics’ Brad Jacobs is stepping down at the end of this year from his positions as executive and non-executive chairman, respectively, according to a Monday news release.
- He’ll remain as a special advisor XPO through June 30, 2026 as CEO Mario Harik takes over the position. GXO Logistics board member Patrick Byrne will similarly assume the non-executive role.
- “By transitioning out of my board positions at XPO and GXO, I can dedicate even more energy to QXO and Jacobs Private Equity,” Jacobs said. “XPO and GXO are in excellent shape and their prospects are very bright.”
Dive Insight:
Jacobs began his run with XPO, previously called XPO Logistics and Express-1 Expedited Solutions, in 2011 as part of a $150 million investment.
He became CEO and chairman of the board at that time and aimed to make the company one of the largest expedited trucking businesses in the U.S. Jacobs led the company on a string of acquisitions, including Con-way in 2015 that scaled the company to over 50,000 customers at the time.
After the company grew into a multibillion-dollar operation, he also spun off portions of the business with GXO in 2021 and RXO in 2022 as pure-play contract logistics and brokerage companies, respectively.
“When we completed the GXO spin-off, I committed to staying on for three years as Chairman,” Jacobs said in the release. “More than four years later, the company is stronger than ever, and the leadership team is well-positioned to drive GXO’s next chapter of growth.”
Jacobs also noted that Harik’s key roles throughout XPO’s development make the company well-positioned to continued success.
