Exclusive-Impactive Capital may run proxy fight at WEX, seeking 4 of 11 directors, source says

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Exclusive-Impactive Capital may run proxy fight at WEX, seeking 4 of 11 directors, source says - Channel News Asia

Quick Summary:

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.

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 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.