Latest news with #MelissaSmith
Business Wire
10-07-2025
- Business
- Business Wire
WEX Inc. to Release Second Quarter 2025 Financial Results on July 23, 2025
PORTLAND, Maine--(BUSINESS WIRE)-- WEX Inc. (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today announced it will report second quarter 2025 financial results in a release to be issued on Wednesday, July 23, 2025, after market close. The press release and WEX's supplemental materials packet—which include a summary and discussion of our second quarter performance—will be available that same afternoon through the investor relations section of the WEX website, om. On Thursday, July 24, 2025, at 10:00 AM ET, Melissa Smith, WEX's Chair, Chief Executive Officer, and President, and Jagtar Narula, WEX's Chief Financial Officer, will host a conference call to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of WEX's website. The live conference call may also be accessed by dialing +1 888-596-4144 or +1 646-968-2525. The passcode number is 2902800. The live webcast will be accompanied by presentation slides, which will be made available through the investor relations section of the WEX website on the morning of July 24 prior to the beginning of the webcast. A replay of the live webcast will be available on the Company's website or by dialing +1 800-770-2030 or +1 609-800-9909, conference ID number 2902800, beginning approximately two hours after the webcast. The replay will remain available through at least Thursday, July 31, 2025. About WEX WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit
Yahoo
10-06-2025
- Business
- Yahoo
Wex eyes HSA benefit from budget amid pressure
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Business-to-business payments software provider Wex may benefit if the proposed U.S. budget bill expands access to health savings accounts, the company's CEO said last week. 'The big, beautiful bill has the potential for expanding HSA [programs], which would create even more market share for us,' Wex CEO Melissa Smith said at a June 4 investor conference hosted by the financial firm William Blair. The proposed U.S. budget pending before Congress may increase the number of individuals eligible for an HSA. It also includes provisions that might increase the amount of money consumers can contribute to HSAs and expand options for spending money in the accounts. The budget proposal could make another 20 million HSA accounts available for a 15% increase, William Blair analysts estimated in a Thursday note to clients. Portland, Maine-based Wex provides payments software and cards for a host of purposes, including for employers' benefits administration as well as other uses, such as transportation fleet expense management. The company has about a 5% market share in the benefits administration arena, Smith said. 'The overall growth of HSAs has slowed, but we still have a lot of market to continue to penetrate,' Smith said at the conference. The publicly-traded company has been aggressive in its acquisition strategy in recent years across its segments. On the benefits administration front, it paid $180 million to acquire a health and benefits unit from the financial services company Ascensus in July 2023. The CEO is also pulling other levers to pump up demand. Wex is in the early stages of increasing spending on sales and marketing this year, she noted at the conference. The company is under shareholder pressure, as Wex shares have dropped about 20% this year, compared to a 2% decline in the Standard & Poor's 500 index. In commenting on the stock decline after Smith's comments at the conference, analysts at William Blair said: 'We do not see a near-term catalyst for shares other than a strategic sale or restructuring.' Nonetheless, they said in the note that they don't see that as likely, based on her comments. At the company's annual meeting last month, about a third of votes cast were against Smith and some other Wex board members, according to a filing with the Securities and Exchange Commission. Of the 30 million votes cast for or against Smith, who is also the Wex board chair, about 10 million were against re-electing her to the board. While all the directors recommended by the company were ultimately elected, it's uncommon for such polls to generate so much dissent. In a vote of confidence in the company, Smith's family personally bought 3,721 Wex shares worth about $500,000 last month, according to an SEC filing. Analysts at Robert W. Baird noted the Smith stock purchase and told clients in a report last Tuesday that they 'view this as a good indication that the company is performing reasonably well.' A spokesperson for Wex didn't respond to a request for additional comment. Recommended Reading Wex CEO taps endurance to lead
Daily Mail
08-06-2025
- Daily Mail
Dressage rider left in a wheelchair after pack of dogs let off the lead by their walker spooked her horse wins £500k payout
A top dressage rider who was left in a wheelchair after a horrific accident caused by out of control dogs has won £500,000 in damages. Melissa Smith, a former international grand prix competitor, was riding her horse along a bridlepath in Surrey when two dogs being walked off the lead by a professional dog walker suddenly spooked her mare - causing it to rear up and fall on top of her. The devastating incident left the 40-year-old with a broken pelvis, broken back and serious head injury, and she had to be airlifted to hospital where doctors warned her the injuries were life-threatening. The terrifying fall left her unable to walk and confined to a wheelchair for months but determined Melissa battled back through multiple surgeries and two years of grueling rehab, and has even managed to get back in the saddle. Now, after a lengthy legal fight, she's been awarded half a million pounds in compensation and a court ruling which could have serious implications for dog walkers across the country. The accident happened in December 2018, when Ms Smith, who ran a livery yard and trained dressage horses, was out riding her eight-year-old mare Lorentina, affectionately known as Loti, on Crooksbury Common in Surrey. She encountered dog walker Diane Worth, who was out with four dogs, and warned her to keep them under control. Ms Worth managed to put two of the animals back on the lead, but two others, a black cockapoo named Buddy and a white cavapoochon named Harley, ignored her commands and ran free. As the dogs darted around her horse, Ms Smith again warned: 'Although my horse is good with dogs, their walker should not let them get behind her horse in case it kicked out.' Moments later, disaster struck. The startled horse reared up and threw Ms Smith to the ground, then fell on top of her, crushing her beneath its body. Speaking this week, Ms Smith told The Telegraph: 'The horse I was riding was badly frightened by the loose dogs and she fell on top of me, crushing me, becoming stuck with her legs up in the air. 'She managed to get up but I knew I was very seriously injured. I was taken by air ambulance to St George's where I was told I had life-threatening injuries, needed emergency surgery and would need two years' rehabilitation to recover.' Ms Smith took legal action against the dog walker, suing for negligence. The case went to court in 2023 after Ms Worth's insurance company disputed liability but the judge ruled in Melissa's favour, concluding she had suffered because of the dog walker's failure to keep the animals under control. Judge Jonathan Simpkiss found that something must have spooked the usually calm horse to cause her to rear and said it could 'only have been the dogs' behaviour.' He added: 'With the benefit of hindsight, one can easily see that if all four dogs had been on leads, this accident would probably not have happened.' One of the dogs, Harley, had reportedly been described by its owners as able to walk off the lead, 'but may chase other wildlife.' The judge said this should have included horses unless it was specifically noted that the dog was used to them. He ruled that it was foreseeable that if a dog ran loose near a horse, it could frighten the animal and the risk of a rider being seriously injured was significant. Ms Worth, he said, should have known that horses were regularly ridden on the common and ought to have anticipated such a risk. He found her liable, saying her failure to take reasonable steps to prevent the risk had caused the accident. Ms Worth admitted in court that she had lost control of Buddy and Harley. Her legal team had tried to argue that Ms Smith herself was partly to blame, saying her horse had been 'pawing' the ground and snorting, but the judge dismissed the claim, adding that the rider had been 'experienced and highly competent' and had been in control until the moment the horse reared. An allegation that Ms Smith should not have been riding in an area used by dog walkers, despite it being a public bridlepath, was withdrawn during proceedings. Melissa's solicitor Mary Ann Charles, from equestrian law specialists Shaw & Co, who is also a rider herself, said the accident should never have happened. She said: 'It's not an accident that should have happened. There's a lack of understanding that this risk exists. 'The person on the horse usually understands but the person with the dog doesn't necessarily. They're concerned about the welfare of the dog, not really thinking about the welfare of the people they're encountering.'
Telegraph
07-06-2025
- Telegraph
Rider injured after dogs spook horse wins £500k
An international dressage rider left seriously injured after a pack of dogs spooked her horse has won £500,000 in damages. Melissa Smith was left with multiple fractures when her horse reared up and threw her to the ground after being chased by two loose dogs taken off the lead by a professional dog walker. Ms Smith was airlifted to St George's Hospital in Tooting, south-London, with life-threatening injuries including a broken pelvis, broken back and a head injury after the accident on a bridlepath in Surrey, in December 2018. The former international grand prix rider, who spent months in a wheelchair and required multiple surgeries following the accident, has since learnt to walk again and managed to get back in the saddle. She is now hoping to return to dressage competition as a para rider. Following the accident, Ms Smith sued dog walker Diane Worth for damages for negligence. The case went to court in 2023 after the dog walker's insurance company contested the case. Judge Jonathan Simpkiss found in Ms Smith's favour and the case was finally settled out of court last month. The judgment is thought to have important implications in laying out the responsibilities for dog walkers exercising their animals on public rights of way. The accident happened when Ms Smith, who ran a livery yard and trained dressage horses, was riding her eight-year-old mare Lorentina, known as Loti, and met Ms Worth walking four dogs on Crooksbury Common, Surrey. The High Court heard that Ms Smith called out a warning to Ms Worth, who managed to put two of the dogs back on their leads. But the court heard that she was unable to catch black cockapoo Buddy and Harley, a white cavapoochon. Ignoring Ms Worth's calls, Buddy and Harley ran around, prompting Ms Smith to call out that although her horse was good with dogs, their walker should not let them get behind her horse in case it kicked out. In court, Ms Worth agreed she had lost control of the two dogs. As the dogs raced around, Lorentina became spooked and suddenly reared up, throwing Ms Smith to the ground. Speaking to The Telegraph this week, Ms Smith told of the devastating impact of the accident: 'The horse I was riding was badly frightened by the loose dogs and she fell on top of me, crushing me, becoming stuck with her legs up in the air. 'She managed to get up but I knew I was very seriously injured. I was taken by air ambulance to St George's where I was told I had life-threatening injuries, needed emergency surgery and would need two years' rehabilitation to recover.' In his ruling, Judge Simpkiss said: 'Something out of the ordinary must have happened to cause Loti to rear and this can only have been the dogs' behaviour. 'With the benefit of hindsight, one can easily see that if all four dogs had been on leads, this accident would probably not have happened.' Harley's owners had filled in a form for Ms Worth saying that he would walk off the lead 'but may chase other wildlife' and this, said the judge, must include horses unless they had indicated it was used to horses. Judge Simpkiss found that it was foreseeable that if any of the dogs ran out of control near a horse, it might 'spook' the animal. He added that there was a significant risk of the horse responding in a way which might cause horse and rider to fall and for the rider to be seriously injured. Judge Simpkiss ruled that Ms Worth knew horses were ridden on the common and should have anticipated she might come into contact with a horse and rider while walking dogs, with an out-of-control dog causing a horse to respond violently by kicking, rearing or bolting. He found Ms Worth liable for the accident, and ruled that her breach of duty of care in failing to take reasonable steps to prevent the risk caused the accident. Ms Worth's solicitors had argued that Ms Smith was partly to blame for the accident, saying she had failed to control her horse, which was 'pawing' the ground and snorting. An allegation that she should not have been riding in an area where dogs walked – although she was on a bridlepath – was withdrawn. Judge Simpkiss found that Ms Smith was an experienced and highly competent rider, who was in control of the horse until she reared, and the allegation that she negligently fell off the horse could not be taken seriously. Mary Ann Charles, Ms Smith's solicitor of Shaw & Co, who is herself a rider and specialises in equestrian personal injury claims, said: 'It's not an accident that should have happened. There's a lack of understanding that this risk exists. 'The person on the horse usually understands but the person with the dog doesn't necessarily. They're concerned about the welfare of the dog, not really thinking about the welfare of the people they're encountering.' Following her accident, Ms Smith endured a painful road to recovery, but she remained determined throughout to fight compensation and for dog walkers to be made aware of their responsibility to remain in control of their animals at all times.
Business Wire
22-05-2025
- Business
- Business Wire
Impactive Capital Comments on Clear Message Sent by WEX Inc. Shareholders That Board Change Is Needed
NEW YORK--(BUSINESS WIRE)--Impactive Capital, LP, ('Impactive' or 'we') together with its affiliates, one of the largest shareholders of WEX Inc. (NYSE: WEX) (the 'Company' or 'WEX') with an ownership interest of approximately 7.0%, today commented on the results of the Company's 2025 annual meeting of stockholders (the 'annual meeting'). Impactive previously disclosed its intention to vote against the election of three directors – Jack VanWoerkom, Melissa Smith, and James Neary – in its open letter to shareholders on May 2, 2025. Each of these three directors received high percentages of against votes at the annual meeting. Specifically: Jack VanWoerkom, Lead Independent Director, who has served on the Board for two decades, received only 57.2% support 1, a decline of 38.4 percentage points compared to 95.6% support last year, placing him in the 0.3 rd percentile 2 of all directors elected at S&P 400 companies in 2024; Melissa Smith, CEO and Chairwoman, received only 64.3% support 1, a decline of 33.4 percentage points from 97.7% last year, placing her in the 0.6 th percentile 2 of all directors elected at S&P 400 companies in 2024; James Neary, Director, who has served for nearly a decade and was initially appointed to represent Warburg Pincus, which has not held a position in WEX for three years, received only 67.0% support, a decline of 32.8 percentage points from 99.8% last year, placing him in the 0.8 th percentile 2 of directors elected at S&P 400 companies in 2024. Lauren Taylor Wolfe, Co-Founder and Managing Partner of Impactive, stated: 'WEX's shareholders sent a clear message that they no longer have confidence in the current Board. As one of WEX's largest and most committed long-term investors, we want nothing more than to see the Company succeed. Unfortunately, the gap between WEX's intrinsic value and its stock price has continued to widen and the Company has shown no indication that it possesses a viable strategy for reversing this trend. In spite of our attempts over the past four years to work constructively to address the Company's valuation gap, the Board has repeatedly dismissed our efforts to strengthen shareholder alignment by adding an Impactive representative as a director. In our letter issued earlier this month, we disclosed our intention to vote against three directors after private engagement about strategic, value enhancing ideas and shareholder alignment were dismissed. The fact that each of these individuals saw their support from shareholders decline by more than 30 percentage points – without Impactive even soliciting proxies or taking any public action beyond our letter – is a direct indicator that investors share our disillusionment with the status quo. It is a particularly notable rebuke that Ms. Smith received only 64% support, given her position as the Company's CEO and Chairwoman charged with not only overseeing WEX's strategy, but also its engagement with shareholders. Impactive's preference is to engage privately and constructively. We have a successful track record of working collaboratively with boards, management teams and reasonable advisors to agree on beneficial solutions that are in the best interests of all stakeholders. However, it has become clear that WEX is not interested in good faith engagement. That is why we intend to nominate at least four directors for election at next year's annual meeting, barring a significant reversal of the Company's underperformance or approach to engagement in the coming months.' About Impactive Impactive Capital, LP is an active investment management firm based in New York. Impactive invests in high quality, attractively valued businesses and engages collaboratively with management teams and Boards to unlock shareholder value using capital allocation, operational and returns-linked ESG tools. Investing over a longer term, multi-year time horizon allows Impactive to think and invest like owners to drive long term sustainable returns for all shareholders. 1 Support calculated as 'For' votes divided by sum of For, Against, Abstain, and Broker Non-votes. 2 Percentile calculated based on the number of election results below the director divided by 2,943 director election results at S&P 400 companies in 2024.
