Scott Niswonger

Activist investor alters 5 seats on Forward Air board

Activists reach agreement with Forward

An activist investor group led by Ancora Advisors has effected change to five seats on asset-light trucking and logistics company Forward Air’s (NASDAQ: FWRD) board.

Forward announced Monday after the market close that it has “appointed five independent and highly qualified directors” in connection with an agreement with Ancora. The directors will join the board immediately and stand for election at the annual meeting on May 19.

New agreement brings back former leadership

The cooperation agreement...

https://www.freightwaves.com/news/investor-activism-alters-5-seats-on-forward-air-board

Activists claim ‘substandard’ results, ‘disingenuous’ disclosure by Forward Air

Activist investors point to sagging margins and returns

The activist investor group seeking changes at asset-light trucking and logistics company Forward Air (NASDAQ: FWRD) issued another letter to shareholders Tuesday. The group provided its summary on Forward’s fourth-quarter earnings results as well as a rebuttal to Forward’s take on the recent dialogue between the two parties.

The group, which is led by Ancora Advisors and includes Forward founder Scott Niswonger and former CFO Andy Clarke, said it remains “highly disappointed by the operating...

https://s29755.pcdn.co/news/activists-claim-substandard-results-disingenuous-disclosure-by-forward-air

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

$90M activist investment seeks changes at Forward Air

Activist investors seek shakeup at Forward Air

A group of investors is looking to shake things up at expedited trucking company Forward Air (NASDAQ: FWRD), according to filings with the U.S. Securities and Exchange Commission.

Cleveland-based Ancora Advisors has taken on an activist role alongside former Forward founder Scott Niswonger and former CFO Andy Clarke. The group seeks to “enhance shareholder value” through a variety of measures including changes to the management team and board as well as capital allocation strategy. The documents...

https://www.freightwaves.com/news/90m-activist-investment-seeks-changes-at-forward-air