WEX Ends Proxy Battle With Impactive Board Agreement
WEX reached a settlement with Impactive Capital to add three directors and split its leadership roles. The deal ends a bitter proxy battle and delays the annual meeting.
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WEX INC reached a settlement with Impactive Capital to add three new directors, ending a proxy battle hours before a scheduled shareholder vote. The deal in the United States follows a bitter contest that industry experts predicted activist investor Impactive was positioned to win. This resolution avoids a contested election and forces a leadership split between the chairman and CEO roles at WEX.
