1. Lakeview Investment Group urges removal of FWRD board members for their performance. 2. They recommend an accelerated strategic review for potential sale of FWRD. 3. Proxy advisory firms support changes to avoid value-destructive decisions. 4. Lakeview represents significant shareholder interests in FWRD's direction. 5. A sale at a premium is seen as the best outcome for shareholders.
Calls for board change and strategic review may signal potential value unlocking. Historically, such shareholder activism has led to favorable outcomes for stock prices.
The proposal by a significant shareholder suggests potential changes that could drive stock price increases. Investor sentiment may shift positively based on anticipated board changes and strategic initiatives.
Immediate actions proposed by major shareholders may quickly influence stock performance. Similar cases have shown stock price reactions within a few months.
CHICAGO--(BUSINESS WIRE)-- Lakeview Investment Group & Trading Company, LLC (together with its affiliates, “Lakeview”), a meaningful shareholder of Forward Air Corp. (NASDAQ: FWRD) (“Forward Air” or the “Company”), is announcing its plans to withhold support for three incumbents at the Company’s 2025 annual meeting of shareholders: George Mayes, Jr. (chairman), Javier Polit (director) and Laurie Tucker (director). Lakeview agrees with the conclusions reached by other investors and the two leading proxy advisory firms, which affirmed there is a need to remove long-standing directors with histories of voting for value-destructive acquisitions. In addition, Lakeview urges the board of directors to avoid further investor unrest by carrying out an accelerated strategic review that results in a sale at a meaningful premium.
About Lakeview Investment Group
Lakeview Investment Group & Trading Company, LLC is a Chicago-based investment manager founded in 2004 with a focus on small- and mid-cap companies. Lakeview’s strategy focuses primarily on long-term investments in companies trading at significant discounts to intrinsic value. On select occasions, Lakeview engages directly with company leadership to help drive shareholder value.