Share buyback more important right now than acquisitions, says XPO chief
XPO Logistics has put its merger and acquisition file back on the shelf while it ...
Maersk fears Amazon. That’s the headline grabber in this piece on Bloomberg. Perhaps the more interesting aspect, though, is chief executive Soren Skou’s admission that subsidiary Damco may not be quite fit for purpose. Mr Skou says while the company “can in principle” deliver, it lacks the “global footprint” of parent Maersk. Which means it could “make sense for us to buy a small company that brings technology, skill or a capability that we don’t already have”, he said.
But he believes Amazon is only a threat if “we don’t do our job well”. A good read.