Building products distributor and installer QXO announced Nov. 12 that Dev Ahuja will become Chief Financial Officer, succeeding Ihsan Essaid, who will move into an executive role as Vice Chairman. Both appointments take effect in January 2027.

Ahuja joins from aluminum products manufacturer Novelis, where he has served as CFO since 2016. He previously held CFO positions within Novartis, including Alcon’s North American and Japanese operations and Novartis’ South Korean business.

At Novelis, Ahuja helped complete and integrate the company’s $2.8 billion acquisition of industrial manufacturer Aleris. During his tenure, Novelis raised $8 billion through acquisition financings and debt refinancings.

QXO Chairman and CEO Brad Jacobs cited Ahuja’s experience leading global finance teams through major capital transactions and acquisition integrations.

Essaid, QXO’s CFO since July 2024, will oversee mergers and acquisitions and advance capital-raising activities, reporting to Jacobs. QXO continues to target $50 billion in annual revenue within the decade.

Preliminary 3Q26 Results

The leadership announcement follows QXO’s Nov. 9 release of preliminary, unaudited results for its third quarter ended Sept. 30. Those figures included:

• Net sales: Approximately $4.9 billion, up 79% from $2.73 billion a year earlier.
• Adjusted EBITDA: Approximately $557 million, up 85% from $301 million. Adjusted EBITDA margin was 11.4%, compared with 11.1%.
• Net loss: Approximately $123 million, compared with a $139 million loss in 3Q25.

The results include Kodiak Building Partners and TopBuild, acquired April 1 and July 1, respectively. Neither business was included in QXO’s year-earlier results, significantly affecting the comparisons.

During a Nov. 9 call with market analysts, Jacobs said companywide organic revenue per day trends improved for a second consecutive quarter. October daily sales increased 5.4% year-over-year across QXO and 9.1% in its Roofing and Waterproofing business.

Also Nov. 9, Jacobs announced a separate acquisition platform backed by a planned $1 billion investment in publicly traded CKX Lands. He will lead that venture while continuing as QXO’s Chairman and CEO.

QXO is scheduled to release its full 3Q26 financial results at the end of market hours on Nov. 12.