Dive Brief:
- XPO Logistics has named acting president Mario Harik as its next CEO with current head Brad Jacobs expected to step down once the carrier’s planned spinoff is complete, according to a Thursday announcement.
- Harik was also appointed LTL president effective immediately, after serving as acting president since October 2021. He will transition to CEO in the fourth quarter.
- Jacobs, who spearheaded the carrier’s efforts to separate its LTL and brokerage businesses, will become XPO’s executive chairman and non-executive chairman of the brokerage spinoff, according to the release.
Dive Insight:
Harik has been with XPO for over a decade, taking over as CIO in 2011 before adding chief customer officer to his repertoire in 2021. He oversaw the company’s technology strategy including the creation of its principal brokerage platform.
Harik has worked “side-by-side with me to build the company into an industry leader and innovation powerhouse,” Jacobs said in a statement. “I’m confident that we’ll have a seamless transition from Mario’s current role as LTL president to his leadership of XPO as a standalone LTL company.”
In the first nine months as head of XPO’s North American LTL segment, Harik increased operating efficiency to “record levels” last quarter, according to the release. He also “accelerated [XPO’s] growth strategy,” doubling the average number of units produced at the company’s trailer manufacturing facility and opening five new terminals.
Harik’s promotion comes as XPO finalizes the leadership of its spinoff and turns its attention to ensuring successful stewardship of its LTL business.
“The opportunity ahead for XPO is enormous,” Harik said in a statement. “We have a high-ROIC LTL business in an industry with substantial barriers to entry… Our network has a robust technological infrastructure and a highly engaged team with many long-standing customer relationships.”
