ISS Recommends Forward Air Shareholders Vote Against Reelection of Three Legacy Directors Amid Concerns Over Governance and Value Decline

Reuters
06-02
ISS Recommends Forward Air Shareholders Vote Against Reelection of Three Legacy Directors Amid Concerns Over Governance and Value Decline

Institutional Shareholder Services Inc. (ISS), a leading independent proxy advisory firm, has advised shareholders of Forward Air Corporation to vote against the reelection of three board members at the company's 2025 Annual Meeting. The members in question are Chairman George S. Mayes, Jr., Director Javier Polit, and Director Laurie Tucker. ISS highlights these directors' roles in the Omni acquisition, which is seen as a value-destructive decision, and underscores the urgent need for a strategic review process. Shareholders, including significant stakeholder Ancora Holdings Group LLC, express concerns over further potential value destruction and seek to replace the directors to ensure a genuine and thorough review process that maximizes shareholder value.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Forward Air Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250602047611) on June 02, 2025, and is solely responsible for the information contained therein.

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