News Summary

Parkland Corp., a Calgary-based fuel refiner and retailer, has named two new independent directors, Felipe Bayon and Sue Gove, to its board. This move comes as an activist investor pushes for a comprehensive board overhaul. The company, which is considering strategic options including a potential sale, has been urged by Engine Capital LP and Simpson Oil to maximize shareholder value. Simpson Oil has rejoined the board after a successful legal challenge regarding governance disputes. The addition of Bayon, former CEO of Ecopetrol S.A., and Gove, a board member of LKQ Corp., aligns with Parkland’s efforts to bolster its governance and strategic oversight.