XPO Logistics Inc.
Xpo Ltl Truck Park Profile 8531

XPO announces new CFO, reformed board of directors

Oct. 11, 2022
In a busy year for the evolving No. 9 FleetOwner 500 company, XPO moves closer to completing the separation of brokerage platform RXO with distribution of the new subsidiary’s stock and the formation of a new XPO board of directors.

XPO Logistics on Oct. 10 announced the appointment of Carl Anderson as the company’s new chief financial officer, effective Nov. 8. Anderson will replace Ravi Tulsyan, who will leave XPO after assisting with Anderson’s transition.

The company, which is No. 9 on the FleetOwner 500: Top For-Hire Fleets of 2022, also revealed the distribution of all outstanding shares of stock for RXO, its new tech-enabled brokered transportation platform and subsidiary, and the approval of a post-spinoff board of directors for parent XPO.

See also: XPO promotes Silberkleit to CIO

Anderson most recently served as CFO of Meritor, a global supplier of OEM and aftermarket parts for commercial vehicle and industrial markets. His 25-year career in transportation includes earlier positions with Meritor, which is now a Cummins company, including group VP of finance, treasurer, and director of international capital markets, market risk management, and corporate insurance, according to a statement from XPO, a provider of freight transportation services, primarily less-than-truckload and truck brokerage.

Earlier, with General Motors Acceptance Corp., he served as senior manager of structured finance and as senior financial analyst for the financial planning group. Anderson began his career as a senior financial analyst with First Chicago Corp. He has a master’s degree in business administration from Wayne State University and a bachelor’s in economics from Michigan State University.

“Carl is a strong B2B finance leader with an operational orientation and a long track record of delivering on goals. His broad executive experience in the commercial vehicle sector is valuable context for his role at XPO, where we have one of the largest LTL fleets in North America,” XPO Chairman and CEO Brad Jacobs said in the statement. “Ravi has made many vital contributions to XPO’s success over the last six years. He was instrumental to our GXO spinoff in 2021, and more recently led our finance organization through the RXO spinoff process and the sale of intermodal.

Meanwhile, recording of the distribution of RXO stock shares will be Oct. 20, trading is expected to begin for them on Oct. 27 and distribution is expected to take place by Nov. 1. XPO also announced that it had finalized the appointment of a new board members, effective with completion of the separation of the two companies.

At its upcoming inception, RXO will become the fourth largest broker of full truckload freight transportation in the U.S., according to another XPO statement, with a proprietary digital freight marketplace, access to substantial truckload capacity, and brokered services for managed transportation, last mile, and freight forwarding. XPO, a leading provider of LTL transportation in North America, also has a European transportation business that the company plans to divest.

“I’m extremely pleased that our spinoff has board approval and is moving toward a Nov. 1 distribution for our shareholders,” Jacobs said. “XPO and RXO will each benefit from a strong board of directors who bring valuable perspectives to the growth strategy.”

Jacobs will continue to lead the board as executive chairman, and Johnny C. Taylor, Jr., Allison Landry, Jason Aiken, and Michael Jesselson will remain as directors. Taylor will serve as lead independent director and will chair XPO’s compensation committee. Landry will serve as vice chairman and will chair the nominating, governance, and sustainability committee. Aiken will chair the audit committee.

The three new directors will be: Bella Allaire, executive VP of technology and operations with Raymond James Financial and the former chief information officer of UBS Wealth Management Americas; Mario Harik, who will become XPO’s CEO upon completion of the spinoff and serves as the LTL president for North America and CIO; and Irene Moshouris, who is senior VP and treasurer of United Rentals and formerly served in finance management roles with Avon Products and GTE Corp.

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