QXO appoints Dev Ahuja from Novelis as Chief Financial Officer; Essaïd to serve as Vice Chairman

Reuters, November 12 - QXO QXO.N announced on Thursday the appointment of Dev Ahuja as Chief Financial Officer, effective January 2027. He will succeed Ihsan Essaid, who will become Vice Chairman of the building materials distributor.

• Ahuja previously worked at aluminum solutions provider Novelis, serving as the company's Chief Financial Officer since 2016

• QXO stated that during his tenure at Novelis, Ahuja led the $2.8 billion acquisition of Aleris and helped raise $8 billion in financing

• The company said that Essaid, who became Chief Financial Officer in July 2024, will oversee mergers and acquisitions and drive financing activities as Vice Chairman

• Chief Executive Officer Brad Jacobs stated that mergers and acquisitions are a core driver of value creation as QXO aims to achieve its goal of $50 billion in annual revenue within a decade

• Before the market opened, the company's stock price fell by 1%

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