WEX Inc. (NYSE: WEX), a leading financial technology service provider, today announced that its Board of Directors has appointed Melissa Smith, president and CEO, to serve as chair of the board, effective September 12, 2019. Ms. Smith, who has been CEO of WEX and a member of the WEX Board of Directors since 2014, will succeed Michael Dubyak, who will continue to serve as a member of the Board.
“It has been an honor to serve as chair and be a part of WEX’s incredible transformation over the past 10-plus years,” Mr. Dubyak said. “As we transition the leadership of the Board, I am confident Melissa will serve as chair with the same level of integrity and commitment that she has brought to the Board as a director and to her leadership of the company as our president and CEO.”
In addition, the Board has elected Jack VanWoerkom as vice chair and lead independent director, effective September 12, 2019. Mr. VanWoerkom, who has more than 40 years of experience as a corporate advisor and counsel, has been an independent director of WEX since 2005. He is succeeding Row Moriarty, who will continue to serve as a member of the Board.
“On behalf of the Board, I would like to thank Mike and Row for their many years of service, extraordinary counsel and steadfast commitment to enhancing shareholder value,” Mr. VanWoerkom remarked. “I look forward to carrying Mike and Row’s legacy forward and am honored to be given the opportunity to serve as lead independent director for this high-caliber Board. The Board reflects a healthy mix of new and longer-tenured directors with relevant industry and subject-matter expertise. Melissa and I plan to work closely with the other directors and management to guide WEX successfully through its next chapter of growth and continue its evolution as a leading financial technology company.”
Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through approximately 4,900 associates around the world. WEX fleet cards offer approximately 14 million vehicles exceptional payment security and control; our travel and corporate solutions business processes over $35 billion of purchase volume annually; and the WEX Health financial technology platform helps 343,000 employers and more than 28 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.