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XPO Logistics, Inc. announced the transition of Chief Executive Officer Bradley S. Jacobs to Executive Chairman of the Board, effective on the earlier of January 1, 2023 or the effective date of the spin-off of the Company’s truck brokerage business. Mr. Jacobs has been the CEO of XPO Logistics since September 2, 2011. From 2011 to 2021, Mr. Jacobs realized $171,425,508 in total compensation.
Upon Mr. Jacobs’ transition to Executive Chairman, Mario A. Harik will assume the role of Chief Executive Officer. Mr. Harik currently serves as the Company’s Chief Information Officer and President, Less-Than-Truckload. Upon his promotion, his annual target compensation will be as follows:
| Base Salary | Target Bonus | PSUs | RSUs | Total Annual Compensation |
|---|---|---|---|---|
| $850,000 | $1,700,000 | $6,000,000 | $1,500,000 | $10,050,000 |
In connection with his promotion, Mr. Harik was also granted a one-time equity grant of $6,500,000 in the form of PSUs.
To view the details of this transition, please click here.
Mr. Jacobs is the 32nd CEO from the Equilar 500 to announce their resignation in 2022.
Senior Research Analyst
Owen Gilles, Senior Research Analyst at Equilar, authored this post. Please contact Amit Batish, Director, Content & Communications, at abatish@equilar.com for more information on Equilar research and data analysis.
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