QXO Finalizes Leadership Team, Launches Investment

QXO — formerly known as SilverSun Technologies before being snagged up by serial entrepreneur Brad Jacobs — completed the previously announced $1 billion equity investment from Jacobs Private Equity (JPE) and co-investors, and finalized its leadership team.

With this move, Jacobs has officially entered the building products distribution industry as QXO’s Chairman and CEO, SilverSun Technologies has been renamed to QXO, and the company’s ticker symbol on the NASDAQ Capital Market has changed from SSNT to QXO.

Under the terms of the transaction, JPE and the co-investors invested an aggregate of $1 billion in cash in the company, comprised of $900 million by JPE and $100 million by the co-investors, including Sequoia Heritage.

In late May, the company tapped a Wall Street banker to lead its finances, and announced its executive team and board members on June 6. The company said it will name further appointments, including a chief technology officer and potential additional board members, in the future.

The new executive appointments, all of whom have held senior or executive posts at either Jacobs’ less-than-truckload service giant XPO or its spin off GXO, include:

• Josephine Berisha as Chief Human Resources Officer. Berisha has more than two decades of senior HR experience with global companies. She previously served as Chief Human Resources Officer for XPO from 2020 to 2023, and held various HR leadership roles at Morgan Stanley.
• Joe Checkler as Senior Vice President of Communications. Checkler most recently served as Vice President of Communications for XPO from 2018 to 2022. Prior to XPO, he was a media relations executive with Peppercomm and a reporter for Dow Jones & Company, where he covered business and financial news for The Wall Street Journal.
• Matt Fassler as Chief Strategy Officer. Fassler was Chief Strategy Officer of XPO from 2018 to 2022, and currently serves as a member of the board of directors of GXO Logistics. Previously, he spent more than 20 years at Goldman Sachs.
• Austin Landow as Executive Vice President. Landow is managing director of Jacobs Private Equity. He joined XPO from 2019 to 2023, and was instrumental in helping the company spin off GXO Logistics and RXO. Earlier in his career, he served stints at Stockbridge Capital Group and Cerberus Capital Management.
• Mark Manduca as Chief Investment Officer. Manduca previously served as Chief Investment Officer of GXO Logistics from 2021 to 2023. Prior to GXO, he held senior positions with investment banks, including Citigroup, and led sector-specific research teams for Bank of America Merrill Lynch.
• Eduardo Pelleissone as Chief Transformation Officer. Pelleissone most recently led operations in the Americas and Asia Pacific for GXO Logistics from 2021 to 2024, after serving as Chief Transformation Officer of XPO. Prior to that, he held executive roles at Kraft Heinz Co. and rail logistics company America Latina Logistica SA.
• Chris Signorello as Chief Legal Officer. Signorello previously served in senior legal roles with XPO, most recently as Deputy General Counsel and Chief Compliance Officer from 2021 to 2023. Prior to XPO, he was with Henkel Corp. and Goodwin Procter.
• Sean Smith as Chief Accounting Officer and Deputy Chief Financial Officer. Smith has more than two decades of senior financial experience across multiple industries. He most recently served as Corporate Controller for Chewy. Prior to that, he key finance positions with XPO.

Six inaugural members of QXO’s board of directors include:

• Brad Jacobs, Chairman, founded and led five public companies prior to QXO: United Waste Systems, United Rentals, XPO, and XPO’s spin-offs, GXO Logistics and RXO. He serves as Executive Chairman of XPO and as Non-Executive Chairman of GXO and RXO. Jacobs is the Managing Partner of Jacobs Private Equity.
• Jason Aiken has led the technologies segment of General Dynamics since 2023, serving as CFO and other senior positions.
• Marlene Colucci has served as CEO of The Business Council in Washington, D.C. since 2013. She is Vice Chair of GXO Logistics’ Board of Directors.
• Mario Harik is CEO of XPO, and serves on its board.
• Mary Kissel is Stephens’ Executive Vice President and Senior Policy Advisor, and Vice Chair of RXO’s Board of Directors.
• Allison Landry is Vice Chair of XPO’s Board of Directors and the former senior transportation research analyst with Credit Suisse.

Find more information on the appointees in the company’s June 6 news release.

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Vesna Brajkovic

Vesna Brajkovic is MDM’s Senior Editor, having joined the company in May 2023. She has more than seven years of experience as a B2B publication editor, having focused on the commercial trucking, railroad, transit, fleet maintenance, automotive aftermarket and aviation industries. Brajkovic most recently spent the past two-plus years as Managing Editor of Heavy Duty Trucking for Bobit Business Media — where she reported and edited news and features on the commercial trucking industry, managed eNewsletters and social media, coordinated print magazine production and developed content for events and multimedia such as podcasts and videos. She can be contacted at vesna@mdm.com.