XPO poaches Amazon logistics chief Kenny Wagers to become COO
XPO Logistics has appointed former Amazon executive Kenneth Wagers as its chief operating officer. He replaces ...
2018 has begun with a rash of rumours about the possibility of US retail behemoth Home Depot making a bid for XPO Logistics, which is being valued by analysts in the $9bn region. The reason given is that the Home Depot board has been looking at how to defend its business from the Amazon threat and concluded that a large-scale investment in logistics might be key, according to this report from Recode. It’s a fascinating idea, but probably likely to remain just that, says this post from Freight Waves, which cites analyst Stifel as claiming the deal won’t go ahead for two reasons: Home Depot only accounts for 3-4% of XPO’s revenues; and secondly XPO is sitting on a huge pile of cash, and there’s very little point in buying money
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