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Impactive Capital Issues Letter to WEX Inc. Shareholders Announcing Its Intention to Vote Against Three Directors at 2025 Annual Meeting
Plans to Vote Against Jack VanWoerkom, Melissa Smith, and James Neary Confident Company can Deliver Value to All Stakeholders with the Right Leadership and Strategy NEW YORK, May 02, 2025 (GLOBE NEWSWIRE) -- Impactive Capital, LP, together with its affiliates, one of the largest shareholders of WEX Inc. (NYSE:WEX) (the “Company”) with an ownership interest of approximately 7.0% today issued an open letter to the Company’s shareholders. The full text of the letter is set forth below: Dear Fellow
About this update from Wex Inc.
[{"type":"image","alt":"Impactive Capital letterhead","displaySize":"","headline":null,"caption":"Impactive Capital letterhead","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":24,"url":"https://media.zenfs.com/en/globenewswire.com/c0400dcfaac7841e7120f9f2b7317720"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/mKf2DPINV2qtUZT0y9PeSA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTM0O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/c0400dcfaac7841e7120f9f2b7317720","width":300,"height":24}},"lazy":false},{"type":"text","content":"Plans to Vote Against Jack VanWoerkom, Melissa Smith, and James Neary","length":69,"tagName":"p"},{"type":"text","content":"Confident Company can Deliver Value to All Stakeholders with the Right Leadership and Strategy","length":94,"tagName":"p"},{"type":"text","content":"NEW YORK, May 02, 2025 (GLOBE NEWSWIRE) -- Impactive Capital, LP, together with its affiliates, one of the largest shareholders of WEX Inc. (NYSE:WEX) (the “Company”) with an ownership interest of approximately 7.0% today issued an open letter to the Company’s shareholders.","length":274,"tagName":"p"},{"type":"text","content":"The full text of the letter is set forth below:","length":47,"tagName":"p"},{"type":"text","content":"Dear Fellow Shareholders,","length":25,"tagName":"p"},{"type":"text","content":"Impactive Capital LP (together with its affiliates, “Impactive” or “we”) is a large and longstanding shareholder of WEX Inc. (“WEX” or the “Company”), beneficially owning approximately 7.0% of the shares outstanding. As one of WEX’s largest and most committed shareholders — our ownership position is more than five times that of the entire board of directors (the “Board”) and executive officers combined— we are deeply invested in the Company’s long-term success. We believe that with the right change and improved shareholder alignment, WEX can deliver significant value to all stakeholders.","length":594,"tagName":"p"},{"type":"text","content":"As further detailed below, we have privately and constructively engaged with the Board and management for the past four years. At the end of 2024 and after a period of deteriorating performance, we requested that an Impactive representative be added to the Board to bring a much-needed shareholder perspective. Unfortunately, the Board and management have seemingly ignored our feedback an...