Impactive Capital Provides Information to Shareholders of WEX

Published: 2026-04-13 12:27:20 ET WEX

Published on 04/13/2026 at 12:27 pm EDT

On April 13, 2026, Impactive Capital LP, announced that it has sent a letter to Shareholders of WEX Inc., asked to support its 3 director nominees Kurt Adams, Ellen Alemany and Lauren Taylor Wolfe, citing years of underperformance, weak capital allocation, and outsized CEO pay, urged shareholders replace Nancy Altobello, Melissa Smith, and Stephen Smith, with its director nominees and called for replacing the current board chair, Melissa Smith, at the annual meeting of shareholders scheduled to be held on May 5, 2026. In addition, Impactive Capital highlighted Company's negative shareholder return since Smith became chair, lagging competitors and the S&P MidCap 400, criticized the Mobility segment's performance, and noted the board's failure to consider asset divestitures. Further, Impactive Capital pointed out Smith's $85 million compensation amid a $3.4 billion drop in market capitalization, and argued its nominees bring needed skills.

Furthermore, Impactive Capital Stated that the Company opposed its nominees, citing concerns about Wolfe, and offered to appoint 2 nominees to an expanded board, which Impactive rejected.