CALGARY — Parkland Corp., which is facing calls from an activist shareholder for an overhaul of its board, has named two new independent directors.
The Calgary-based fuel refiner and retailer, which is undergoing a strategic review, named Felipe Bayon and Sue Gove to its board of directors, effective Tuesday.
Bayon is a former chief executive of Ecopetrol S.A., Colombia’s largest integrated energy company, while Gove is a member of the board at auto parts company LKQ Corp. and a former chief executive of Bed Bath & Beyond.
Engine Capital LP, the New York activist hedge fund that owns 2.5 per cent of Parkland’s stock, said on Monday that Parkland’s board could not be trusted to represent investors' best interests.
Engine, along with major shareholder Simpson Oil, had been calling on Parkland to make major changes and weigh strategic alternatives, including selling the entire company.
Parkland says that with the addition of Bayon and Gove it has added six independent directors to its board over the past two years.
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This report by The Canadian Press was first published March 18, 2025.
