GXO Logistics CEO Malcolm Wilson to Retire in 2025

GXO Logistics, Inc. recently disclosed in a Form 8-K filing to the Securities and Exchange Commission that Malcolm Wilson, the current Chief Executive Officer (CEO), has made known his decision to retire in 2025. The announcement was made on December 3, 2024. Until his departure, Mr. Wilson will maintain his role as CEO and director while actively participating in the executive search process for his successor.

In accordance with the terms outlined in a settlement agreement with the Company, which involves a waiver and release of claims along with reaffirmation of obligations under his Service Agreement, Mr. Wilson is set to receive various compensatory packages. This includes severance payments as per the Company’s Severance Plan, along with additional payments of $1,000,000 per year for the three years following his termination date, provided he refrains from competing with the Company or its subsidiaries. Furthermore, provisions regarding the vesting of his outstanding restricted stock units, with certain restrictions and expectations, have been laid out in the agreement.

In a concurrent Regulation FD Disclosure on the same day, GXO Logistics released a press statement confirming Mr. Wilson’s impending retirement. The press release highlighted Mr. Wilson’s significant contributions to the company, citing his leadership during a period that saw substantial revenue growth, notable acquisitions such as Clipper Logistics and Wincanton, and increased EBITDA and return on invested capital.

Acknowledging Mr. Wilson’s leadership, Brad Jacobs, Chairman of the GXO Board of Directors, praised his dedication and mentioned the company’s expansion under his tenure, along with the acquisitions and financial achievements realized.

Mr. Wilson expressed gratitude for his time at GXO, emphasizing the company’s innovative strategies and its market position. He also extended his appreciation to the team and clients for their unwavering support over the years.

The Form 8-K also contains cautionary statements regarding forward-looking statements, underscoring the inherent uncertainties and risks associated with them. GXO Logistics is obligated to update its forward-looking statements as required by law and as events unfold.

The Company furnished a press release as Exhibit 99.1, providing additional details on Mr. Wilson’s retirement. This press release is not considered “filed” for the purposes of the Securities Exchange Act of 1934 or incorporated into any future filings unless explicitly specified.

For further details, the press release concerning Mr. Wilson’s retirement and GXO Logistics’ operational information can be accessed on the Company’s official website. Investors and the public are encouraged to stay informed about any developments related to this transition period.

The Company has yet to announce the successor to Mr. Wilson as they continue the search for the next CEO.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read GXO Logistics’s 8K filing here.

About GXO Logistics

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.