XPO Logistics, Inc., a leading provider of freight transportation services, today announced that it has filed a confidential Form 10 registration statement with the US Securities and Exchange Commission for the planned spin-off of its tech-enabled brokered transportation platform.
The filing represents a significant milestone in the transaction process, which the company continues to expect to complete in the fourth quarter of 2022.
As previously announced, XPO intends to spin off its asset-light brokered transportation platform from its asset-based less-than-truckload business, creating two separate, publicly traded companies with vast growth prospects in North America. XPO’s best-in-class truck brokerage service will be the largest component of the spin-off, with complementary brokered services for managed transportation, last mile logistics and global forwarding. These four offerings currently comprise XPO’s North American Transportation division led by Drew Wilkerson, who, as previously announced, will serve as chief executive officer of the spin-off company.
XPO further announced that Lou Amo has been appointed to the spin-off’s executive team as president, truck brokerage. He currently serves in this role with XPO in North America.
Amo has 23 years of experience in transportation operations and carrier management. He joined XPO as vice president, brokerage operations in 2012 and was promoted to president, truck brokerage – North America in 2020.
From 2016 to 2020, his role was expanded to include executive responsibility for expedite and managed transportation. Earlier, Amo held senior positions with Electrolux, Union Pacific and SABIC (formerly GE Plastics). He holds a master’s degree in business administration from the Whitman School of Management at Syracuse University.
Brad Jacobs, chair and chief executive officer of XPO Logistics, said, “Drew and Lou have built a cohesive management team that has outperformed the brokerage industry for years, in large part through technology. Our spin-off is intended to create significantly more value for customers and investors as a standalone pure-play with a high-performing model.”