Activist investors seek 4 seats on Forward Air board

Activist investors seek to "enhance shareholder value"

In an open letter to shareholders on Wednesday, activist investor Ancora Advisors announced that it has nominated four candidates for election to the board of asset-light trucking and logistics company Forward Air (NASDAQ: FWRD).

After unsuccessful discussions between the board and the investor group, which also includes Forward’s founder Scott Niswonger and former CFO Andy Clarke, it appears a proxy battle is now in the works.

The letter asserts Forward has the potential to be a “best-in-class...

https://www.freightwaves.com/news/activist-investors-seek-4-seats-on-forward-air-board

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