Feb 9 (Reuters) – Impactive Capital has nominated four candidates for election to the board of WEX at its upcoming annual shareholders’ meeting, the activist investor said on Monday, ramping up pressure on the fintech company.
Impactive said its nominations would bring fresh perspectives and relevant expertise, restoring investor confidence and improving shareholder returns.
The activist investor’s nominees are Kurt Adams, Ellen Alemany, Ken Cornick and Lauren Taylor Wolfe, whose combined experience spans areas including payments, financial services and governance.
Reuters reported in late 2025 that Impactive had selected a handful of director candidates with experience in banking and payments to serve on WEX’s board.
“We cannot afford another year of value destruction under a board that appears determined to avoid accountability and is unwilling to act with urgency,” Impactive said, adding that the “widening gap versus its closest peer, Corpay, is increasingly alarming.”
WEX’s spokesperson told Reuters, the company “has taken decisive actions to strengthen its performance and closed 2025 with record revenue,” adding that “while we are not satisfied with the stock price, we note that our stock has outperformed WEX’s industry peer group year-to-date and over the one and five-year trailing periods.”
Impactive holds a 5% stake in WEX, according to a regulatory filing.
The activist investor added that it had urged WEX’s board to hold management accountable and focus on disciplined pricing, cost efficiency and simplifying the business to improve returns and unlock shareholder value.
Instead, the company has pursued mergers and acquisitions with questionable strategic fits, Impactive said.
“Members of WEX’s board and management team have engaged with Impactive’s principals dozens of times and have thoughtfully considered Impactive’s input on strategy, capital allocation, and board composition,” the WEX spokesperson said.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Jonathan Ananda and Shailesh Kuber)
Comments