GXO Logistics yesterday began its first day of trading on the New York Stock Exchange as an independent and publicly traded company.
The company uses machine learning, data science, and predictive analytics to give retailers, manufacturers, and other supply chain owners a more ‘competitive advantage’.
GXO launches with approximately 94,000 team members worldwide and more than 208 million ft2 of warehouse space in 869 locations across 27 countries.
Under the terms of the previously announced separation, XPO stockholders received one share of GXO common stock for every one share of XPO common stock held, as of the close of business on the record date for the distribution, July 23, 2021.
Malcolm Wilson, chief executive officer of GXO said: “We have a powerful platform for future growth, including our culture of innovation, strong customer relationships, seasoned leaders and a world-class team. This is day one of unlocking vast new potential for our company.”