XPO Logistics continued a year of change by announcing this week that Jamie Harris will become chief financial officer of RXO, the planned spinoff of Greenwich, Connecticut-based XPO’s brokered transportation platform.
Harris will join XPO, No. 9 on the FleetOwner 500 list of Top For-Hire Fleets of 2022, as CFO of the North American transportation division, effective Sept. 26, and will lead RXO’s finance operations when the separation of the two companies is complete later this year. Harris will report to Drew Wilkerson, who will be CEO of RXO and currently serves as president of transportation for North America at XPO.
See also: XPO lifts guidance, plans CEO change
Harris is a career CFO with 35 years of accomplishments in B2B sectors, including two decades with public companies, according to a Sept. 7 release from XPO.
He holds a master’s degree in business administration from Wake Forest University and a bachelor’s in accounting from Appalachian State University, where he currently serves on the university's board of trustees.
XPO also announced that David Murray has joined the company’s North American transportation division as vice president of financial shared services and will continue to lead financial shared services while serving as treasurer of RXO once the spinoff is complete, according to the release.
Murray’s 22-year career includes positions as head of financial planning and analysis with IAC Group and assistant treasurer with The Mosaic Co. Earlier, Murray served in senior roles with General Motors Corp., primarily in treasury.
He holds bachelor’s and master’s degrees in business administration from the University of Michigan and is a CPA, according to the Sept. 7 release.
Wilkerson said, “In Jamie, we have a veteran CFO who will align our financial strategy with our rapid growth, while David adds key bench strengths. Our RXO C-suite is now nearly complete. I’m extremely pleased with the strong leadership team we’ve created to move our brokerage business toward the planned spin-off as a separate public company.”
XPO continues a transformative 2022
It’s been a busy year at XPO, which in March announced that it would spin off its brokerage from its less-than-truckload business. In July, the company announced the name of the tech-enabled brokerage, RXO. “Our spinoff now has a name—RXO—bringing it one step closer to becoming a stand-alone industry leader,” XPO CEO Brad Jacobs said at the time. “Our best-in-class truck brokerage business will be the keystone of RXO’s asset-light platform, poised to continue to take share of a growing market.”
The spinoff’s largest component will be truck brokerage, with complementary brokered services for managed transportation, last-mile logistics, and global forwarding, XPO announced. Also, in March, XPO leaders named a 10-year company veteran, Lou Amo, as president of RXO.
Last month, XPO announced that it grew its second-quarter operating income by more than 20% from a year ago and raised its full-year profit and cash flow forecasts. The company also announced that its chief information officer and less-than-truckload leader, Mario Harik, would take over as CEO from Jacobs once XPO completes the spinoff of RXO.
In May, XPO executives said the company had produced record first-quarter 2022 profits and revenues, boosted by progress in efforts to make its LTL network more efficient. This after XPO announced in February that it had set fourth-quarter 2021 and yearly earnings records last year.
