Form 8-K · Current Report · Filed 2024-07-18
QXO, Inc. Appoints New Chief Financial Officer
QXO, Inc. has appointed Ihsan Essaid as its new Chief Financial Officer, effective July 15, 2024. Mr. Essaid, who previously held senior roles at Barclays, will receive an annual base salary of $900,000 and a target annual bonus of 125% of his base salary. His compensation is subject to adjustments based on the company's revenue and performance. He will also receive a signing bonus of $3 million and is eligible for equity awards, subject to certain conditions and vesting schedules. The appointment is detailed in an employment agreement filed as an exhibit to the company's upcoming Quarterly Report on Form 10-Q.
- Filer
- Qxo Inc. QXO · NYSE
- Filed
- Accession
- 0000950142-24-001951
- CIK
- 0001236275
- Signal
- High impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Market reaction
Close before filing
$71.70
Next session
-18.3%
Since filing
-81.5%
Latest close
$13.30
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from QXO reporting the same item, with the next session's move:
About Qxo Inc.
Qxo Inc. is a company engaged in the innovative technology sector, specializing in developing software solutions that enhance business processes for small and medium enterprises (SMEs). It provides integrated platforms designed to streamline customer relationship management, inventory control, and financial reporting, all vital components for driving operational efficiency. Qxo Inc.'s products are particularly impactful in industries such as retail, healthcare, and professional services, offering scalability and customization tailored to specific client needs. The company's comprehensive approach ensures that businesses can leverage data analytics for strategic planning and decision-making. Headquartered in a technology hub, Qxo Inc. plays a significant role in the digital transformation landscape, continuously adapting to advancements and market demand. Its focus on user-friendly interfaces and seamless integration with existing systems positions Qxo Inc. as a crucial partner for enterprises aiming to leverage technology for growth and competitiveness in modern markets.
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