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QXO Appoints Eric Nelson as Chief Information Officer

1. Eric Nelson appointed as QXO's new chief information officer. 2. Nelson has extensive experience in tech transformation and operations. 3. He aims to enhance QXO's tech roadmap in building products sector. 4. CEO praises Nelson's capability to drive innovation and growth. 5. XO targets $50 billion in annual revenues over the next decade.

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Why Bullish?

Nelson's strong tech and operational background may enhance QXO’s market position, similar to historical IT transitions benefiting other firms.

How important is it?

The appointment of a tech leader aligns with QXO's growth strategy, making the news highly significant for investors.

Why Long Term?

While immediate changes will take time, Nelson's long-term strategies can substantially elevate QXO's growth trajectory.

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KHCCADBURYPEPKO
GREENWICH, Conn.--(BUSINESS WIRE)--QXO, Inc. (NYSE: QXO) today announced that Eric Nelson has been appointed chief information officer, effective July 14. Nelson will execute the company’s IT roadmap as QXO becomes the tech-enabled leader in the $800 billion building products distribution industry.“Eric brings a rare blend of technical acumen and business insight to QXO."Share Nelson joins QXO from The Kraft Heinz Company, where he spent a decade in senior technology roles. He brings extensive experience leading front- and back-office operations for complex organizations, and played a pivotal role in the tech transformation of five major acquisitions and spin-offs. Brad Jacobs, chairman and chief executive officer of QXO, said, “Eric brings a rare blend of technical acumen and business insight to QXO. His proven track record of delivering significant impact across logistics, procurement, manufacturing and sales aligns perfectly with the innovation already underway at QXO.” In his most recent role at Kraft Heinz, Nelson spearheaded global IT strategy for all corporate functions, including supply chain, research and development, and finance. Prior to that, he was CIO of Kraft Heinz North America and global head of analytics. In these roles, he developed robust data and machine learning operations, scaled digital product development across business units and led enterprise-wide cloud migrations. Previously, Nelson held various technology and operational leadership positions at Kraft and its spin-off, Kraft Foods Group, with responsibility for supply and demand planning, transportation, manufacturing, distribution and procurement. Earlier in his career, he led continuous improvement efforts at Cadbury plc. Nelson holds a bachelor’s degree in information systems technology from Southern Illinois University and a Lean Six Sigma Black Belt certification from Villanova University. About QXO QXO is the largest publicly traded distributor of roofing, waterproofing and complementary building products in the United States. The company plans to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. QXO is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

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