David Bates on value creation
From XPO Logistics open to spinning off up to four business units: CEO · · CNBC Television
“What we're doing proactively I think is the best way to create a significant amount of value in the stock holding auctions and going through a professional process for each one of those four business units.”
On , David Bates, Chief Operating Officer at XPO INC, spoke about value creation during XPO Logistics open to spinning off up to four business units: CEO on CNBC Television.
About David Bates
In September 2020, XPO Logistics CEO Bradley Jacobs stated that the company was considering spinning off or selling up to four of its business units. Jacobs said the company's stock had performed well but was receiving a low valuation multiple as a diversified company, and that separating the units into smaller pure-play businesses could create more value. He specified that the company was not marketing its less-than-truckload (LTL) unit or the entire company, but was instead marketing its North American and European transportation and logistics businesses. Jacobs described the proactive process of holding auctions for each of the four units as the best way to create value in the stock.