Impactive Capital nominates four candidates to WEX board

Impactive Capital LP, which holds approximately 5.0% of WEX Inc. (NYSE: WEX), announced it has nominated four candidates for election to the company's board of directors at the 2026 annual meeting of stockholders.

The nominees are Kurt Adams, Ellen Alemany, Ken Cornick and Lauren Taylor Wolfe. Adams currently serves as CEO of IPC Systems Inc. and previously held executive roles at Optum Financial and Corpay Inc. Alemany is a current director of First Citizens BancShares Inc. and former chairwoman and CEO of CIT Group. Cornick is a current director of Clarivate Plc and co-founder of Clear Secure Inc.. Taylor Wolfe is co-founder and managing partner of Impactive Capital.

According to the press release, Impactive has been seeking board representation for four years to address what it characterizes as underperformance. The firm stated that over the past five years, WEX has underperformed Corpay by 58% and the S&P MidCap 400 by 76%. Over three years, it has underperformed Corpay by 81% and the S&P MidCap 400 by 52%.

Impactive noted that at the 2025 annual meeting, CEO and Chair Melissa Smith and two other directors received rejection votes from over 30% of voting shareholders. The firm stated this support level was in the bottom 1% among S&P MidCap 400 director elections in 2025.

The press release indicated that WEX's operating margins trailed Corpay by over 18 points in 2025, with WEX's operating margin declining from 26.1% in 2024 to 25.0% in 2025, while Corpay's margin increased from 41.9% to 43.1%.

Impactive plans to file a preliminary proxy statement with the Securities and Exchange Commission to solicit votes for its director nominees.

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