Market Chatter: WEX Shareholders Urged by Impactive Capital to Replace CEO on Board Next Month

MT Newswires Live

Apr 11

WEX (WEX) shareholders are being urged by Impactive Capital to replace the company's Chief Executive Officer Melissa Smith on its board of directors at its annual meeting next month, Reuters reported Friday, citing sources and documents.

Impactive Capital, which owns about 5% of WEX, wants to replace three sitting directors, including CEO Smith, who is also the company's board chair, the report said, adding that the hedge fund does not want to replace the CEO, but replace her on the board and to separate the CEO and chair roles.

The hedge fund further said that Smith's pay is too high and the board's governance record is poor, Reuters reported.

WEX did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 157.98, Change: -1.52, Percent Change: -0.95

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p><p>Price: 157.98, Change: -1.52, Percent Change: -0.95</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1861217088.USD","symbol_name":"贝莱德金融科技A2","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2626395117","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2626395117","pubTimestamp":1775847241,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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