Lakeview Investment Group & Trading Company, LLC, a significant shareholder in Forward Air Corporation, has announced its intention to withhold support for three incumbent directors at the company's upcoming 2025 annual meeting of shareholders. The directors in question are George Mayes, Jr., the chairman, alongside directors Javier Polit and Laurie Tucker. Lakeview's decision aligns with the conclusions of other investors and leading proxy advisory firms, who have highlighted the need to replace long-standing directors with a history of supporting acquisitions perceived as detrimental to shareholder value. Lakeview is advocating for an accelerated strategic review process to explore a potential sale of the company at a premium, in response to growing interest from private equity firms. This move is aimed at achieving the best outcome for shareholders and mitigating potential investor unrest.
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