Latest news with #WEXInc
Business Wire
10-07-2025
- Business
- Business Wire
WEX Inc. to Release Second Quarter 2025 Financial Results on July 23, 2025
PORTLAND, Maine--(BUSINESS WIRE)-- WEX Inc. (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today announced it will report second quarter 2025 financial results in a release to be issued on Wednesday, July 23, 2025, after market close. The press release and WEX's supplemental materials packet—which include a summary and discussion of our second quarter performance—will be available that same afternoon through the investor relations section of the WEX website, om. On Thursday, July 24, 2025, at 10:00 AM ET, Melissa Smith, WEX's Chair, Chief Executive Officer, and President, and Jagtar Narula, WEX's Chief Financial Officer, will host a conference call to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of WEX's website. The live conference call may also be accessed by dialing +1 888-596-4144 or +1 646-968-2525. The passcode number is 2902800. The live webcast will be accompanied by presentation slides, which will be made available through the investor relations section of the WEX website on the morning of July 24 prior to the beginning of the webcast. A replay of the live webcast will be available on the Company's website or by dialing +1 800-770-2030 or +1 609-800-9909, conference ID number 2902800, beginning approximately two hours after the webcast. The replay will remain available through at least Thursday, July 31, 2025. About WEX WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit
CNA
22-05-2025
- Business
- CNA
Impactive Capital plans proxy fight at WEX, seeking at least four directors
NEW YORK :Activist investor Impactive Capital said it is gearing up for a boardroom fight at financial technology company WEX Inc, and may nominate at least four directors to its board in 2026. Impactive, which owns roughly 7 per cent of the company and has been a shareholder for four years, is ratcheting up pressure on the payments company only days after its May 15 annual meeting. WEX's share price has slid 30 per cent over the last 12 months. "We intend to nominate at least four directors for election at next year's annual meeting, barring a significant reversal of the company's underperformance or approach to engagement in the coming months," Impactive said in a statement confirming an earlier exclusive report by Reuters that the firm was preparing a challenge. WEX, whose services include payment processing and information management for vehicle fleets, employee benefits, business payments and travel payments, has a market value of roughly $4.5 billion. Impactive, run by Lauren Taylor Wolfe and Christian Asmar, has privately pressed WEX to simplify its business and create greater alignment between the company and its shareholders but feels its requests have been dismissed, said a person familiar with the discussions who was not authorized to speak publicly. Specifically, Impactive urged WEX to consider spinning off its benefits segment and suggested adding an investor to the 11-member board of directors, according to the person, who said Impactive asked late last year to join the board. WEX said members of its management team had spoken with Impactive's principals dozens of times over the last three years. "It was not until late last year that Impactive requested Board representation. We have a history of constructive engagement and intend to continue those conversations," the company said in a statement. Despite its strong market positioning, attractive assets and competitive advantages, WEX has underperformed and lagged behind peers, including Corpay, Impactive said earlier this month in a public letter to shareholders. In an effort to exert pressure, Impactive said on May 2 that it would vote against three directors, including the company's chair, Melissa Smith, and lead director, Jack VanWoerkom, at the May 15 meeting. While all three were re-elected, shareholders' support for each director targeted by Impactive was at least 33 per cent lower than the previous year, according to a regulatory filing, signaling some concern. Impactive has only run one proxy fight during its seven-year lifetime and has said it prefers to engage with companies and management privately to fix problems.
CNA
22-05-2025
- Business
- CNA
Exclusive-Impactive Capital may run proxy fight at WEX, seeking 4 of 11 directors, source says
NEW YORK :Activist investor Impactive Capital is gearing up for a boardroom fight at financial technology company WEX Inc, and may nominate at least four directors at next year's annual meeting, according to a person familiar with the matter and a document seen by Reuters. The share price of WEX has slid 30 per cent in the last 52 weeks. Impactive, which owns roughly 7 per cent of the company and has been a shareholder for four years, is ratcheting up pressure on the payments company only days after its May 15 annual meeting. WEX, whose services include payment processing and information management for vehicle fleets, employee benefits, business payments, and travel payments, has a market value of roughly $4.5 billion. Frustration has been simmering for years as Impactive privately pressed WEX to simplify its business and create greater alignment between the company and its shareholders but feels its requests have been dismissed, the source said. The source was not permitted to discuss the hedge fund's private plans. Specifically Impactive has urged WEX to consider spinning off its benefits segment and has suggested adding a investor to the 11-member board of directors. Late last year, Impactive asked to join the board but has so far not been invited on, the person said. A representative for the company was not immediately available for comment. Despite its strong market positioning, attractive assets and competitive advantages, WEX has underperformed and lagged behind peers, including Corpay, Impactive said earlier this month in a public letter to shareholders. In an effort to exert pressure, Impactive said on May 2 that it would vote against three directors, including the company's chair, Melissa Smith, and lead director, Jack VanWoerkom, at the May 15 meeting. While all three were re-elected, shareholders' significant votes "against" the directors signal concern. Impactive has only run one proxy fight during its seven-year lifetime and said publicly at conferences that it prefers to engage with companies and management privately to fix problems. Two years ago Impactive settled a proxy fight with Envestnet when the financial technology company added three new directors, including Impactive co-founder Lauren Taylor Wolfe. But Impactive is eyeing a potential second board challenge by taking on WEX because it worries the company and its advisors are ignoring shareholders' wishes, the source said. It is considering nominating at least four directors because of the board's size, the person said.
Reuters
22-05-2025
- Business
- Reuters
Exclusive: Impactive Capital may run proxy fight at WEX, seeking 4 of 11 directors, source says
NEW YORK, May 22 (Reuters) - Activist investor Impactive Capital is gearing up for a boardroom fight at financial technology company WEX Inc (WEX.N), opens new tab, and may nominate at least four directors at next year's annual meeting, according to a person familiar with the matter and a document seen by Reuters. The share price of WEX has slid 30% in the last 52 weeks. Impactive, which owns roughly 7% of the company and has been a shareholder for four years, is ratcheting up pressure on the payments company only days after its May 15 annual meeting. WEX, whose services include payment processing and information management for vehicle fleets, employee benefits, business payments, and travel payments, has a market value of roughly $4.5 billion. Frustration has been simmering for years as Impactive privately pressed WEX to simplify its business and create greater alignment between the company and its shareholders but feels its requests have been dismissed, the source said. The source was not permitted to discuss the hedge fund's private plans. Specifically Impactive has urged WEX to consider spinning off its benefits segment and has suggested adding a investor to the 11-member board of directors. Late last year, Impactive asked to join the board but has so far not been invited on, the person said. A representative for the company was not immediately available for comment. Despite its strong market positioning, attractive assets and competitive advantages, WEX has underperformed and lagged behind peers, including Corpay (CPAY.N), opens new tab, Impactive said earlier this month in a public letter to shareholders. In an effort to exert pressure, Impactive said on May 2 that it would vote against three directors, including the company's chair, Melissa Smith, and lead director, Jack VanWoerkom, at the May 15 meeting. While all three were re-elected, shareholders' significant votes "against" the directors signal concern. Impactive has only run one proxy fight during its seven-year lifetime and said publicly at conferences that it prefers to engage with companies and management privately to fix problems. Two years ago Impactive settled a proxy fight with Envestnet when the financial technology company added three new directors, including Impactive co-founder Lauren Taylor Wolfe. But Impactive is eyeing a potential second board challenge by taking on WEX because it worries the company and its advisors are ignoring shareholders' wishes, the source said. It is considering nominating at least four directors because of the board's size, the person said.
Business Wire
21-05-2025
- Business
- Business Wire
WEX to Present at the William Blair 45th Annual Growth Stock Conference
PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today announced that its Chair and Chief Executive Officer, Melissa Smith, will present at the William Blair 45th Annual Growth Stock Conference on Wednesday, June 4, at approximately 4:20 PM ET. A webcast of the presentation will be available live on the Investor Relations section of the Company's website, or through the link here. For those unable to listen to the live webcast, an audio replay will also be available on the Company's website for up to 30 days. About WEX WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit
