XPO Logistics announced Thursday that Mario Harik will be taking over the role of chief executive from Brad Jacobs after the company’s spin-off of its high-tech truck brokerage business in the fiscal fourth quarter.
Harik was also named president of XPO’s less-than-truckload business. He had served as acting president since last October.
Jacobs will remain as executive chairman at XPO and non-executive chairman at the spun-off company.
“There’s no better person to do it than Mario,” he said of his successor. “Mario is the third person I hired back in 2011. It was love at first sight.”
The company also reiterated its plan to sell off its Europe business and become a company focused only on LTL trucking, which lets multiple customers transport goods in the same truck.
When Cramer asked Harik how customers’ concerns about the Federal Reserve’s inflation policy and a possible economic…