Parkland nominates 13 directors including three Simpson Oil nominees
Parkland Corp. is proposing a slate of 13 directors including three backed by dissident shareholder Simpson Oil Ltd. for election to its board at its annual meeting next month.
The Calgary-based company says the nominees come as Simpson, which owns a 19.8% stake in Parkland, proposes its own rival slate of nine directors for election at the meeting set for May 6.
Parkland called Simpson's proposal an attempt to seize control of the company without paying a control premium. However, the company says in the "interest of resolution and collaboration with Simpson" it selected three of its nominees for inclusion on its own slate.
Parkland announced plans to review strategic alternatives, including the possible sale of the company, earlier this year. It says it will include one of the Simpson nominees it supports on the special committee overseeing the review.
The company says it expects to reduce the size of its board to 11 before the 2026 annual general meeting of shareholders as part of its ongoing refreshment of longer tenured directors.
Parkland also announced the appointment of Brad Monaco as permanent chief financial officer. Monaco has held progressively senior leadership roles within Parkland’s capital markets and Canadian business segment and has served as Interim chief financial officer since January 1, 2025.
“Many members of the Simpson slate lack credibility and relevant experience to meet the standards required to govern a public company of Parkland’s scale and complexity,” said Michael Jennings, chair of Parkland’s Board in a statement released to the press upon the announcement. “However, in the interest of resolution and collaboration with Simpson, Parkland has selected three of Simpson’s nominees who meet Parkland’s governance standards and propose to include one of the Simpson nominees on the special committee overseeing the strategic review. Simpson nominees Brian Gibson and Karen Stuckey bring skills that are expected to be additive to our Board. Michael Christiansen brings valuable perspective, as he works for Simpson directly and was previously a nominee of Simpson on the Parkland Board.
“We are committed to maximizing value for all shareholders. We are confident that Parkland’s proposed Board, including three of Simpson’s nominees, is the best choice to oversee the strategic review process, protect the interest of all shareholders and find a resolution with Simpson while ensuring day-to-day operations remain on track.”
Parkland’s nominees for election at the AGM are: Felipe Bayon, Nora Duke, Bob Espey, Sue Gove, Tim Hogarth, Richard Hookway, Angela John, Michael Jennings, James Neate, Mariame McIntosh Robinson, Karen Stuckey, Brian Gibson, and Michael Christiansen.
Parkland’s Board is proposing a slate of thirteen directors, that will best serve shareholders as an experienced and diversely skilled Board. Lisa Colnett is not standing for re-election as she has reached her ten-year term limit.
As part of the Board’s ongoing refreshment of longer-term directors, the Board expects to reduce the size of its membership to 11 before the 2026 annual general meeting of shareholders.
- With additional files and information from Parkland Corp.
