In an August 4, 2011 press release, entitled "Express-1 Files Definitive Proxy Materials," Express-1 announced that a company name change will be put to a shareholder vote on September 1. If shareholders approve, the new company name will be XPO Logistics, Inc.
At the same shareholder meeting, shareholders will vote on the proposed equity investment in the company that was announced on June 14 and discussed in this EO Open Forum thread.
The current edition of Expedite NOW is hitting the stands and subscriber mailboxes now. It includes an informative interview with Bradley Jacobs and Mike Welch. Jacobs is the entrepreneur who took over Express-1 and intends to build it into a multi-billion dollar company. Welch is now the former Express-1 CEO and will remain with the company.
Many of the questions asked in the interview were asked on your behalf. They came straight from the Open Forum thread referenced above. EO/EN went straight on with Jacobs and Welch and the gentlemen responded in kind. The piece is a fascinating read.
If you are not yet an Expedite NOW subscriber, you can sign up for a free subscription here.
The piece will appear online in the near future.
Proxy Statement
From the Business Strategy section of the proxy statement:
"JPE intends to cause the Company to grow the expedited transportation solutions business in the near-term organically through accelerated recruiting of owner-operators and the hiring of additional sales and support personnel. In addition, JPE intends to cause the Company to pursue complimentary acquisitions on a selective basis."
Regarding the name change, the proxy statement says:
"The purpose of the Company name change is to align our corporate identity more closely with the focus of our operations and to rebrand the Company commencing with JPE’s acquisition of control."
(Full Disclosure: Diane and I own shares of Express-1 (XPO)).
At the same shareholder meeting, shareholders will vote on the proposed equity investment in the company that was announced on June 14 and discussed in this EO Open Forum thread.
The current edition of Expedite NOW is hitting the stands and subscriber mailboxes now. It includes an informative interview with Bradley Jacobs and Mike Welch. Jacobs is the entrepreneur who took over Express-1 and intends to build it into a multi-billion dollar company. Welch is now the former Express-1 CEO and will remain with the company.
Many of the questions asked in the interview were asked on your behalf. They came straight from the Open Forum thread referenced above. EO/EN went straight on with Jacobs and Welch and the gentlemen responded in kind. The piece is a fascinating read.
If you are not yet an Expedite NOW subscriber, you can sign up for a free subscription here.
The piece will appear online in the near future.
Proxy Statement
From the Business Strategy section of the proxy statement:
"JPE intends to cause the Company to grow the expedited transportation solutions business in the near-term organically through accelerated recruiting of owner-operators and the hiring of additional sales and support personnel. In addition, JPE intends to cause the Company to pursue complimentary acquisitions on a selective basis."
Regarding the name change, the proxy statement says:
"The purpose of the Company name change is to align our corporate identity more closely with the focus of our operations and to rebrand the Company commencing with JPE’s acquisition of control."
(Full Disclosure: Diane and I own shares of Express-1 (XPO)).
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