Richard Cawston on contract terms
From GXO Logistics CEO on the company's strategy to meet holiday shopping demand · · CNBC Television
“The average term of our contract is around five years, that gives us great runway of visibility for our future business and that's why we can look forward into 2022 so positively.”
On , Richard Cawston, Chief Revenue Officer, President of UK&I and Europe at GXO LOGISTIC INC, spoke about contract terms during GXO Logistics CEO on the company's strategy to meet holiday shopping demand on CNBC Television.
About Richard Cawston
Malcolm Wilson, CEO of GXO Logistics, discussed the company's performance and strategy in two CNBC "Mad Money" appearances. In September 2021, ahead of the spin-off from XPO Logistics, Wilson stated that the separation would allow GXO's management to be "laser focused on the customers" and make decisions tailored to the logistics sector. He described GXO as set to become "the second largest logistics company in the world." In a September 2022 appearance, Wilson reported strong first-quarter results as an independent company, citing 25% top-line growth and 100% earnings per share growth. He said the company had signed over a billion dollars of new business on top of existing new business, setting it up for a "great 2022." Wilson noted that the average contract term is around five years, providing visibility for future business. Regarding the holiday season, he stated that GXO had been planning with customers for months, deploying more automation across North American warehouses, and recruiting 10,000 new employees, many of whom were expected to stay into 2022. He described cargo flowing into warehouses as "right in our wheelhouse."