Brad Jacobs, founder of XPO and GXO, steps down as chairman of both companies to focus on QXO, specializing in building products distribution. Effective December 31, Jacobs plans to grow QXO into a $50 billion revenue leader. XPO and GXO remain in good shape with bright prospects.

After stepping down as XPO CEO, Jacobs continued as executive chairman. XPO evolved from an LTL provider to include various freight-related businesses. Plans to become a pure play LTL operator were briefly abandoned in 2020 but ultimately led to spinoffs and sales, resulting in XPO solely operating as an LTL provider.

Under Jacobs’ chairmanship, GXO stock is up 8.76% in the last year, while XPO is down about 5.75%. QXO, with its focus on building products distribution, made its first acquisition with Beacon Roofing Supply. Jacobs aims to grow QXO through acquisitions and organic growth to become a $50 billion revenue leader in the industry.

For the nine months ending September 30, QXO reported net sales of approximately $4.6 billion, following the Beacon acquisition. Jacobs is determined to expand QXO through strategic acquisitions and organic growth to solidify its position in the building products distribution sector.

Read more at Yahoo Finance: Jacobs stepping down as XPO, GXO chair to focus on QXO