Impactive Capital nominates four candidates to board of fintech WEX

Feb 9 (Reuters) - Impactive Capital has nominated four candidates for election to the board of WEX WEX.N at its upcoming annual shareholders' meeting, the activist investor said on Monday, ramping up pressure on the fintech company.

Impactive, which owns 6.4% of WEX, 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 CPAY.N, is increasingly alarming."

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.