中文 (中国)XPO Logistics Inc. named Drew Wilkerson chief executive of the planned spinoff of its freight brokerage as part of the logistics operator’s reorganization of its business units into three separate publicly traded companies.
The appointment of Mr. Wilkerson, who has been president of the North American Transportation business segment at the Greenwich, Conn.-based company, marks a new step in the dismantling of a company that was built up during a decade of acquisitions into one of the largest freight and logistics operators in the U.S.
XPO earlier spun off its contract logistics unit last year into the separate GXO Logistics Inc., sold its intermodal business to STG Logistics in late March and intends to sell or otherwise divest all of its European operations.
The company expects to complete the separation of the freight brokerage business by the end of the fourth quarter. It hasn’t determined how shares in the spinoff will be distributed to existing XPO shareholders and hasn’t given a name to the spinoff.