QXO appoints Dev Ahuja as chief financial officer and promotes Ihsan Essaid to vice chairman

Ahuja to join QXO in January after a decade as CFO of Novelis

QXO, Inc. (NYSE: QXO) today announced the appointment of Dev Ahuja as the company’s chief financial officer. He will succeed Ihsan Essaid, who has been promoted to vice chairman, an executive role, with both positions becoming effective in January 2027.

Ahuja has more than two decades of experience leading financial operations for growth-oriented companies. He joins QXO from Novelis, a leading producer of innovative aluminum solutions, where he served as CFO since 2016. Previously, with healthcare giant Novartis, he held CFO roles for Alcon North America, Alcon Japan and the company’s South Korean business.

Brad Jacobs, chairman and chief executive officer of QXO, said, “Dev has led global finance teams through major capital transactions and the integration of key acquisitions. He’ll be a strong partner as we continue to grow QXO and create value for our shareholders.”

At Novelis, Ahuja was instrumental in completing the company’s $2.8 billion acquisition and integration of Aleris, an industrial manufacturer and oversaw major initiatives for organic growth and operational excellence. During his tenure, Novelis raised $8 billion through M&A financings and debt refinancings.

Essaid has served as QXO’s CFO since July 2024. As Vice Chairman, he will oversee mergers and acquisitions and advance capital-raising activities, reporting to Jacobs.

Jacobs said, “M&A is a core driver of value creation for QXO. Ihsan will continue to work closely with me as we pursue the company’s goal of $50 billion in annual revenue within the decade.”

About QXO

QXO is a leading distributor and installer of building products in North America, serving an $800 billion market. The company’s mission is to modernize the building products industry through advanced technology and a best-in-class customer experience. QXO is the largest distributor and installer of insulation, the second-largest distributor of roofing products, the second-largest publicly traded distributor of lumber and building materials and the largest distributor of waterproofing products. The company is targeting $50 billion in annual revenue within the decade through accretive acquisitions and organic growth. For more information, visit QXO.com.