WEX News & Events

Wex announced that its Board of Directors has authorized a new share repurchase program under which up to $1B, plus any transaction expenses and excise taxes incurred, worth of Wexs common stock may be repurchased.

WEX "announced that its Board of Directors (the "Board") has appointed independent director David Foss as Chair of the Board, effective immediately. The appointment reflects the Board's previously announced plan to separate the roles of Chair and Chief Executive Officer. Melissa Smith will continue to serve as Chief Executive Officer, President, and a member of the Board."

WEX has entered into a cooperation agreement with Impactive Capital Master Fund. Under the terms of the agreement, WEX and Impactive have established a refreshed slate including three new independent directors - Kurt Adams, Ellen Alemany, and Lauren Taylor Wolfe - for election to the WEX Board of Directors at the Company's 2026 Annual Meeting of Stockholders. In addition to the New Directors, WEX will nominate Daniel Callahan, Aimee Cardwell, David Foss, James Groch, Derrick Roman, Melissa Smith, Stephen Smith and Susan Sobbott. As of the Annual Meeting, the Board will include 11 directors. In addition, following the Annual Meeting, WEX will separate the roles of Chair and CEO. Melissa Smith will continue to serve as CEO, President, and a member of the Board. Impactive will withdraw its nomination notice in light of the agreed slate and will support the revised Board at the Annual Meeting. The New Directors will serve on the Board's Nominating and Governance, Leadership Development and Compensation, Technology and Cybersecurity, Finance and Audit Committees. The agreement also contains customary standstill and non-disparagement provisions and voting commitments. The Company will file additional proxy materials with the U.S. Securities and Exchange Commission reflecting the revised slate of 11 director nominees. Shareholders who have voted on Impactive's white proxy card will need to submit new voting instructions on the Company's revised proxy card, which will be distributed to shareholders eligible to vote at the Annual Meeting. To provide shareholders sufficient time to evaluate the updated materials, the Annual Meeting has been rescheduled to May 14, 2026.

Extend announced a collaboration with WEX to enable virtual card payments inside Concur Invoice. WEX corporate card customers can now connect their WEX commercial account in Concur Invoice to generate and settle vendor payments with virtual cards