Irenic Capital Management issued a statement regarding Forward Air (FWRD). Irenic intends to vote against certain legacy members of Forward Air’s board at the annual meeting. Irenic said: “Based on Irenic’s independent analysis, we agree with Ancora Holdings Group’s decision to withhold support for certain legacy directors at Forward Air’s Annual Meeting. Forward Air’s legacy directors circumvented the requirement to give shareholders a vote on the acquisition of Omni Logistics LLC in 2023. The Legacy Forward Air Board’s maneuvers undermined the shareholder franchise on which the legitimacy of Board-led governance rests. While we respect these three directors as individuals, Forward Air’s legacy directors, who usurped authority that properly belongs to shareholders, should have no role in the Company’s governance today.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FWRD:
- Cautious Outlook on Forward Air Amid Integration and Profitability Challenges Justifies Hold Rating
- Forward Air price target lowered to $21 from $22 at Stifel
- Forward Air’s Mixed Earnings Call: Growth Amid Challenges
- Forward Air Reports Strong Q1 2025 Financial Results
- Forward Air reports Q1 EPS ($1.68), consensus (48c)