A global service provider of transportation and logistics, XPO recently announced the promotion of Ravi Tulsyan as Chief Financial Officer from Deputy CFO, following David Wyshner, effective September 2, 2021. In his new executive role, Tulsyan will handle asset sales, divestitures, spin-offs, and his prime focus will be on the development of XPO's transportation segment.
The recent appointment is following XPO's preparations to spin off its contract logistics segment, tentatively by August 2nd, which will narrow down its focus primarily on developing its transportation segment. As the economy is reviving, there is a surge in freight demand across the US, and XPO dealing with freight business and truckers has a strong foot in the region. With XPO focusing on growing its transportation business, it has already witnessed revenue growth in the second quarter, from $3.50 Bn in 2020 to $5.04 Bn at present.
Brad Jacobs, XPO’s CEO, thanked Tulsyan’s contribution to the company’s executive segment as it was preparing for a spin-off, and mentioned that the latter’s shift in the role will be a success for both him as well as the company. With its recent appointment and an eye on a business unit’s spin-off which spawns more than 33% revenue, XPO seems adamant to target the development and innovation of its transportation business.
Tulsyan, a Chartered financial analyst as well as a veteran treasurer and leader, has served a number of companies with over 2 decades of experience in finance and treasury. He joined XPO in 2016 as Senior Vice President and Treasurer, where he was responsible for managing treasurer activities, corporate finance, capital structure & cash management, global finance, financial risk management, and financial strategy planning.
Tulsyan has also held senior leadership roles at the ADT Corporation, Tyco, MBIA Inc., PepsiCo, and Xerox Corporation.