Baris Oran will become the chief financial officer of GXO Logistics, Inc., the intended spinoff of XPO”™s logistics business, effective May 1.
Oran”™s 20-year finance career includes C-suite roles with multinational market leaders. He most recently served as CFO of the Sabanci Group, one of Turkey”™s largest publicly traded companies, with subsidiaries in the industrial, retail and financial services sectors and over $15 billion of combined revenue.
As CFO, he executed numerous IPO, M&A and divestiture transactions, improved capital allocation and led deleveraging and risk management initiatives, according to a press release.
Oran”™s earlier roles include head of finance for Sabanci and CFO of Kordsa, a global industrial reinforcement technologies company. He has served as chairman, vice chairman or board member of eight public companies and four private companies, including chairman of the board of Teknosa, a retailer in the Sabanci Group.
Brad Jacobs, chairman and chief executive officer of XPO Logistics, based in Greenwich, said: “Baris is a high-impact CFO with a track record of aligning finance organizations with strategy to support value creation. Our GXO leadership team now has five world-class executives, with more to follow.”
As previously reported, XPO expects to complete the spinoff of its logistics business as a separate, publicly traded company in the second half of 2021. Operations at the world”™s second-largest contract logistics provider include approximately 890 locations in 27 countries.
