Gxo Logistics, Inc. (NYSE: GXO) announced today that its Chief Executive Officer, Malcolm Wilson, will be retiring in 2025. Since taking on the role of CEO in August 2021, Wilson has overseen substantial growth for the company. During his tenure, GXO's revenue has increased from $7.9 billion in 2021 to $11 billion in the twelve months ended September 30, 2024. Additionally, the company saw an increase in adjusted EBITDA from $633 million in 2021 to $757 million in the same period.
Under Wilson's leadership, GXO has also achieved a return on invested capital of more than 30% per year. The company has expanded its workforce to 130,000 employees and has grown its facility space to over 200 million square feet across the Americas, Europe, and Asia Pacific. Furthermore, GXO made strategic acquisitions, including Clipper Logistics and Wincanton, among others.
Brad Jacobs, Chairman of the GXO board of directors, commended Wilson for his contributions to the company, noting that GXO has added more than $3 billion in revenue under his leadership. Jacobs expressed confidence in the strength of GXO's management team and industry positioning as the company prepares for the transition to new leadership.
In a statement, Wilson expressed gratitude to the GXO team and customers for their support and emphasized his commitment to working with the board to ensure a smooth transition for the company.
GXO Logistics, Inc. is the world's largest pure-play contract logistics provider, with a workforce of over 130,000 employees and more than 970 facilities totaling approximately 200 million square feet. The company is headquartered in Greenwich, Connecticut, and is focused on leveraging the growth of e-commerce and automation in the logistics industry.
As of this announcement, GXO's focus remains on providing innovative supply chain and e-commerce solutions for its blue-chip partners. As a result of these announcements, the company's shares have moved -14.1% on the market, and are now trading at a price of $50.68. For more information, read the company's full 8-K submission here.
