Troy Cooper will replace Hervé Montjotin as chief executive officer and chairman of XPO Logistics Europe, according to a statement from the recently acquired Norbert Dentressangle.
Former chief executive officer of Norbert Dentressangle SA Hervé Montjotin resigned last week, just a few months after the iconic French logistics and trucking company was acquired by XPO Logisitcs.
XPO in June completed its purchase of 67 percent of the Norbert Dentressangle family’s shares for $3.5 billion, including the company’s debt. Montjotin, who became CEO and chairman of XPO Logistics Europe after the acquisition, will be replaced by Troy Cooper, according to a statement from ND.
Cooper will retain his position as chief operating officer of XPO’s global organization in addition to taking over Montjotin’s previous responsibilities for the company’s Lyon, France-based European operations. Prior to joining XPO in 2011, Cooper held senior management roles with United Rentals, Inc. and United Waste Systems, Inc., and previously in public accounting with Arthur Andersen and Co.
The supervisory board of Norbert Dentressangle SA, now a subsidiary of XPO Logistics, authorized a settlement agreement with Montjotin at its meeting Sept. 3 that included provisions for the payment by the company of a gross mandatory dismissal indemnity of 417,234 euros (U.S. $466,634.51); the payment of a supplementary indemnity with respect to his employment agreement for a gross amount of 80,702 euros; and the “entry into force” Montjotin’s non-compete agreement for a period of 2 years in exchange for the payment of a gross compensation of 52,165.58 euros per month.
As part of his employment agreement with XPO, Montjotin will also receive fully vested XPO shares representing an amount of approximately 250,000 euros, which he will not be permitted to sell until the end of a separate non-compete period of 33 months. XPO agreed with ND to provide 350,000 euros toward the abovementioned termination payments.
“Hervé accomplished a great deal during an important time in Norbert Dentressangle’s history,” Bradley Jacobs, CEO of XPO Logistics and chairman of the supervisory board of Norbert Dentressangle. “We are grateful for his many contributions and wish him the best in his future endeavors.
“As COO, Troy continues to do a stellar job of ensuring that our global vision meshes seamlessly with our daily operations,” he added. “In Europe, Troy will work shoulder to shoulder with our outstanding business leaders to grow our customer service capabilities.”
Former ND CEO resigns from XPO
