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In a statement, the board stood by the company's corporate governance and backed Jacobs who has served as chairman since the company was ...
With XPO at a critical juncture in its history, and facing significant industry headwinds, we believe independent leadership is needed more than ever.
As the company's Board of Directors has repeatedly demonstrated over the years, the board takes matters of corporate governance very seriously and believes that an appropriate balance already exists between Mr. Jacobs' effective leadership and the robust corporate governance practices in effect.
The loss of $600 million in business from the company's largest customer, and a rapidly changing marketplace, make it essential that XPO's board is optimally structured to ask the tough questions of strategy and managerial performance.
I don't think we're 100 percent out of the woods yet on the curveballs we've had in the last year, but we're making excellent progress — faster progress than I would have expected three months ago.