QXO said it plans to transfer its stock listing, aiming to create a tech-forward leader in the building products distribution industry.
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Beacon reported 2023 revenue of $9.3 billion, and its share price is up 14% year-to-date.
The new executive will build the company’s AI function, which will impact route optimization, robotics and automation.
QXO's bid for Rexel, a top electrical distributor in North America, was rejected as undervaluing the company’s potential.
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QXO's latest private placement funding includes $150 million from Jared Kushner’s Affinity Partners.
Investors of the new publicly-traded building materials distributor QXO include long-time XPO shareholders.
