SOUTH PORTLAND, Maine -- (BUSINESS WIRE) -- WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced Melissa D. Smith has assumed the role of WEX chief executive officer, effective January 1. In addition, Smith has assumed a seat on the WEX Board of Directors and will maintain her role as president. This announcement completes the succession plan previously announced by WEX in May 2013. Michael E. Dubyak, previous WEX chairman and chief executive officer, has moved into the newly created role of WEX executive chairman of the Board which he will hold through December 31, 2014.
“I am excited to further advance WEX’s leadership position within commercial payments and to expand our global footprint in 2014 and beyond,” said Smith. “During the management transition period, I have worked closely with the senior leadership team to develop WEX’s 2014 and long-term strategic growth plans. I look forward to overseeing the implementation of the plans and to our continued contributions in our new roles.”
“We are confident in Melissa’s ability to lead the company and continue to execute against our long-term strategy as we look ahead to the next stages of growth for WEX,” said Dubyak. “Her proven track record of leadership at WEX over the past 16 years and her payments industry expertise establish her as the natural successor to drive the company’s momentum forward.”
Smith joined WEX in 1997 and most recently served as president, with responsibility for the day-to-day operations of WEX on a global basis. As president, and during the management transition period, she worked closely with Dubyak to oversee the execution of the company’s strategic initiatives, as well as strategic planning for 2014 and beyond. Previously, she served as president, The Americas, with oversight for the strategy and execution of WEX’s operations in The Americas.
Smith brings 16 years of experience in the payments space and has held various positions of increasing responsibility across all facets of the company including finance, operations, international, and general management. Smith has been a member of WEX’s senior leadership team for the past 12 years, and as former chief financial officer, played a key role in taking the company public and developing relationships with the investment community.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 7.6 million cardholders and offering exceptional payment security and control across a wide spectrum of business sectors. The Company’s operations include WEX Bank, Fleet One, Pacific Pride, rapid! PayCard, WEX Australia, Wright Express New Zealand and CorporatePay Limited, England, as well as a majority equity position in UNIK S.A., Brazil. WEX and its subsidiaries employ more than 1,400 associates. For more information about WEX, please visit www.wexinc.com.