Brad Jacobs, who built freight transportation provider XPO which begat contract logistics provider GXO, is stepping down as chairman of the two companies. Jacobs announced early Monday that he is taking the step so he can focus on QXO, the recently-launched company that is focused on rolling up building products suppliers into what is planned to be a leader in an industry that historically has been highly fragmented. The move is effective December 31. Jacobs is executive chairman at XPO and non-executive chairman at GXO. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[300, 100], [320, 50], [728, 90], [468, 60]], ‘div-gpt-ad-1709668545404-0’).defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); }); googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1709668545404-0’); }); “By transitioning out of my board positions at XPO and GXO, I can dedicate even more energy to QXO and Jacobs Private Equity,” Jacobs said in a prepared statement. “We intend to grow QXO into a $50 billion revenue leader in building products distribution through accretive acquisitions and organic growth. XPO and GXO are in excellent shape and their prospects are very bright.” After Jacobs stepped down as CEO of XPO in 2022, he retained the role of executive chairman at the LTL carrier. GXO was spun off in 2021. XPO (NYSE: XPO) at its core was and is an LTL provider. But it had grown into numerous other freight-related businesses over time. The first plan to break up the company and become a pure play LTL operator was abandoned in March 2020, in the wake of the equity…
