NEW YORK, March 20 Reuters) - Fleetcor Technologies on Monday said it will consider selling or separating
one or more of its businesses and is adding two new board
members amid pressure from hedge fund D.E. Shaw Group.
Fleetcor, which provides fuel cards and workforce payments
products, added Rahul Gupta, a veteran board member director and
expert in the digital services and payments industry, as a new
director.
The company and D.E. Shaw will jointly select a second
director who will join the board later.
Fleetcor, which is valued at $14 billion and is
headquartered in Atlanta, has seen its stock price drop 22% over
the last 52 weeks as investors have become frustrated with how
its businesses are linked together.
(Reporting by Svea Herbst-Bayliss, Editing by Louise Heavens)
Messaging: svea.herbst.thomsonreuters.com@reuters.net))
