XPO Logistics announced the spinoff of its brokerage unit has been blessed by its board with share distribution scheduled for Nov 1.
Daimler Truck now stands on its own, trading in Frankfurt outside the shadow of longtime parent Daimler AG.
Market leader Daimler Truck expects to be its own entity by the end of the year after Daimler AG votes to create two companies.
With Malcolm Wilson, XPO’s chief executive officer for Europe, taking the lead as the CEO of GXO, the company expects the spinoff will create long-term value for its stakeholders.
Roadrunner Transportation Systems to spin off global logistics segment, emerging debt-free in the process.
