XPO Logistics Appoints Jason Kerr as Chief Accounting Officer of RXO Spin-Off | New

GREENWICH, Conn., Oct. 14, 2022 (GLOBE NEWSWIRE) — XPO Logistics, Inc. (NYSE: XPO), a leading provider of freight transportation services, today announced that Jason Kerr will become chief accounting officer of RXO, the planned spinoff of XPO’s brokerage transportation platform. Kerr has joined XPO as Accounting Manager for the North American Transportation Division, effective immediately. Here are reports from Jamie Harris, who, as previously announced, will be RXO’s Chief Financial Officer and currently serves as Chief Financial Officer of North American Transportation.

Harris said, “Jason has a history of helping build shareholder value by working with functional leaders. He also brings deep analytical capabilities to our team. We have put in place a strong financial organization to help RXO unlock its full potential as a leading independent brokerage transportation company.

Kerr has over two decades of experience in public company accounting, most recently as Chief Accounting Officer of BWX Technologies, Inc. (BWXT). For 12 years at BWXT and its former business, The Babcock & Wilcox Company, he led the accounting, reporting and compliance functions and was instrumental in the company’s spin-off in 2015. Previously, he was Senior Executive at Deloitte & Touche LLP and Principal Auditor at Arthur Andersen LLP. He holds master’s and bachelor’s degrees in accounting from the College of Charleston in South Carolina, and is a certified public accountant.

Drew Wilkerson, new CEO of RXO and current President of XPO, North American Transportation, said, “RXO will become a stand-alone public company on November 1 with a solid C-suite in place. Our brokerage platform has a long track record of industry leadership under XPO, and now we are positioned to create much more value for our customers, employees and shareholders.

XPO expects to complete the distribution of RXO shares on November 1, 2022, when the new company will trade under the symbol “RXO” on the New York Stock Exchange. Visit www.rxo.com for more information.

About XPO Logistics and RXO

XPO Logistics, Inc. (NYSE: XPO) is a leading provider of freight transportation services, primarily LTL transportation and truck brokerage. XPO uses its proprietary technology to move goods efficiently through supply chains. The company’s global network serves 50,000 shippers with approximately 749 locations and 43,000 employees, and is headquartered in Greenwich, Connecticut, USA. Visit xpo.com for more information, and connect with XPO at Facebook, Twitter, LinkedIn, instagram and Youtube.

About the spin-off

XPO intends to transform its technology-based transportation brokerage platform into an independent, publicly traded company under the ticker symbol RXO. RXO will be the fourth-largest full truckload freight forwarding broker in the United States, with a proprietary digital freight marketplace, access to vast truckload capacity, and complementary brokerage services for managed transportation, the latest kilometer and freight forwarding. Visit rxo.com for more information.

Forward-looking statements

This release contains 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, including statements relating to the planned spin-off, the expected timing of the transaction and the expected benefits of the transaction. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements.

These forward-looking statements are based on certain assumptions and analyzes that we have made in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate in the circumstances. . These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these statements. forward-looking statements. Factors that could cause or contribute to a material difference include the risks discussed in our filings with the SEC, which can be viewed on the Investors page of our website.

All forward-looking statements set forth in this press release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will materialize or, even if materially materialized, that they will have the expected consequences on or effects on us or our business or operations. The forward-looking statements set forth in this release speak only as of the date hereof, and we undertake no obligation to update any forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence unforeseen events, except to the extent required by law.

The spin-off remains subject to various conditions, including the effectiveness of the Form 10 registration statement and the receipt of tax advice from an attorney, among other requirements. There can be no assurance that the planned split will occur or, if it does occur, the terms or timing.

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