Transportation
GXO Spurns Acquisition Offers as CEO Wilson Steps Down
- Malcolm Wilson to step down from chief executive role in 2025
- Shares decline after company opts not to accept buyout offers
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GXO Logistics Inc. plans to remain an independent company, according to people familiar with the matter, spurning acquisition offers as the supply-chain services provider prepares to replace its chief executive officer.
The company reached the decision after exploring sale options in recent months, said the people, who asked not to be identified discussing information that isn’t public. Bloomberg reported in October that the Greenwich, Connecticut-based company was working with financial advisers after receiving interest from potential buyers.