Melissa Smith, CEO of Wex, a global payments technology provider, exemplifies resilience in both her professional and personal pursuits. With a background marked by completing multiple half Ironmans and participating in marathons like Boston, Philadelphia, Chicago, and Disney, Smith has brought a similar determination to her role as Wex CEO, navigating challenges and steering the company through a period of significant growth.
Since assuming the role of CEO in 2014, Smith has played a pivotal role in nearly tripling Wex's annual revenue to $2.35 billion last year. Leading a global team of 7,000 employees across five continents, Smith has overseen Wex's expansion in providing payment technology for the transportation, healthcare, and travel services industries. The company's offerings include payment processing, embedded finance software, and Wex-branded cards.
Wex's primary segment, which contributes over half of its revenue, serves commercial fleet operators, including major entities like Enterprise's truck rental unit and the federal government's General Services Administration. The second-largest segment focuses on corporate healthcare benefits clients, while the third segment provides business-to-business payment services. historically targeting travel firms and expanding to cater to a broader corporate customer base. Wex also operates as a bank.
Despite Wex's global reach, Smith has been deeply connected to her local community, notably during challenging times. Following a local tragedy where an active shooter killed 18 people at a bowling alley near Wex's Portland headquarters, Smith demonstrated leadership by addressing analysts on a third-quarter earnings call the next morning. Despite the ongoing crisis and the Portland area's lockdown, Smith conveyed her shock, horror, and sadness at the senseless tragedy while expressing solidarity with the affected families and the Wex community.
The ability to lead with compassion and resilience in the face of adversity reflects Smith's leadership style. Her commitment to addressing challenges head-on, whether in the realm of global business operations or local community tragedies, underscores the qualities that have contributed to Wex's growth and success under her leadership.
As Wex continues to navigate a dynamic landscape shaped by the pandemic and macroeconomic shifts, Smith's leadership will likely remain instrumental in steering the company toward continued innovation and resilience in the evolving payments technology sector.
