Parkland Corporation Unveils 2025 Board Nominees and Strategic Directions

On April 7, 2025, Parkland Corporation (TSX: PKI) made significant strides toward its corporate governance by filing a management information circular ahead of its upcoming annual general meeting (AGM), set for May 6, 2025, in Calgary, Canada. The firm is not only nominating key board members but has also made crucial appointments to enhance its financial leadership.

Board Nominees and Strategic Goals

Parkland Corporation announced that it will nominate thirteen candidates for election to its board. This list notably includes three nominees from Simpson Oil Limited, which holds approximately 19.8% of Parkland's outstanding shares. This development presents a contentious scenario, as Simpson's nominations represent a strategic move aimed at consolidating power without offering any control premium.

Michael Jennings, Chair of Parkland's Board, expressed concern about the credibility of some Simpson nominees while simultaneously recognizing the expertise of select candidates from their slate. In a bid to foster cooperation, Parkland has proposed to include one Simpson nominee in the special committee overseeing the strategic review—a move aimed at ensuring all shareholders' interests are protected, while still aiming to maintain operational stability.

The three Simpson representatives who have been put forward for nomination—Brian Gibson, Karen Stuckey, and Michael Christiansen—are expected to add valuable skills to Parkland’s governance structure. Jennings underscored the necessity of a diverse and capable board, stating, “We are committed to maximizing value for all shareholders.”

Appointment of Permanent Chief Financial Officer

In conjunction with the board nominations, Parkland also confirmed the permanent appointment of Brad Monaco as Chief Financial Officer. Monaco's previous experience within Parkland, coupled with his recent role as Interim CFO, positions him well to steer the company’s financial strategies moving forward. His leadership is anticipated to be instrumental in navigating the complexities of corporate governance and strategic exploration for Parkland.

Ongoing Commitments to Corporate Governance

Parkland has expressed its dedication to robust corporate governance, as evidenced by its recent board refreshment efforts that include the addition of six highly skilled independent directors since 2023. This commitment to diversity in leadership aims to equip the organization with the necessary tools to tackle ongoing challenges in an evolving market landscape.

The management information circular will provide shareholders with detailed information about the upcoming AGM and the rationale behind the proposed slate of nominees. Parkland urges shareholders to engage with this material proactively and to ensure their voices are heard through the voting process. The firm emphasizes the importance of supporting the Parkland nominees to uphold fair governance and optimal business operations, encouraging all shareholders to utilize the BLUE proxy for their votes.

Conclusion

As Parkland Corporation navigates the complexities of its upcoming AGM and strategic planning, its proactive measures regarding board nominations and executive leadership reflect a robust approach to corporate governance. The inclusion of diverse nominees alongside experienced internal leadership represents a strategic effort to continue fostering growth and stability, position the company favourably for the future, and ultimately serve the best interests of all shareholders.

By addressing existing challenges while promoting open dialogue and collaboration, Parkland prepares to confront potential opposition and ensure its legacy of successful management and shareholder advocacy continues unabated.

For all shareholders, detailed instructions on how to vote and relevant dates are outlined in the management information circular, which will be accessible on Parkland's official website and via SEDAR+.