#Canada #Calgary #Parkland Corporation #Felipe Bayon #Sue Gove

Parkland Corporation Board Enhancements

On March 18, 2025, Parkland Corporation, a major player in the fuel distribution industry, made significant strides in enhancing its governance structure by appointing Felipe Bayon and Sue Gove as independent directors. This strategic move, bolstered by their extensive industry experience, signals the company's commitment to a robust corporate governance framework, which is crucial as Parkland navigates its ongoing strategic review and aims to maximize shareholder value.

A Stronger Governance Framework

Michael Jennings, Chair of the Board, emphasized the significant contributions that Bayon and Gove will bring to the board. “Felipe and Sue are accomplished executives with expertise in industries that align closely with Parkland's business operations,” he remarked. Bayon’s deep understanding of the energy sector, combined with Gove’s extensive retail background, positions the company strategically for the future.

Felipe Bayon comes equipped with over three decades of leadership experience in the global energy arena. He previously held senior roles at BP plc and served as the President and CEO of Ecopetrol S.A., Colombia’s largest integrated energy company. During his time there, Bayon was instrumental in diversifying the company’s operations, which led to enhanced safety records and improved financial performance. His leadership skills and industry insights will undoubtedly help Parkland explore new avenues for growth and efficiency.

On the other hand, Sue Gove has carved out a successful career in the retail sector, holding various high-level positions including CEO and CFO. Her tenure at AutoZone Inc. stands out, where she spent over a decade, including eight years as Chair of the Nominating and Governance Committee. Her experience in consumer behavior and strategic transformations will greatly benefit Parkland as it seeks to elevate its market presence and customer engagement.

Continued Commitment to Board Renewal

These appointments are part of an ongoing effort by Parkland to ensure a dynamic and diverse board. Over the past two years, the company has brought on six experienced independent directors, each selected for their unique perspectives and industry expertise. This strategy is in line with Parkland’s commitment to continuous improvement in corporate governance practices.

As the company embarks on its strategic review, the insights provided by Bayon and Gove will be invaluable. They are expected to help the board evaluate various opportunities aimed at maximizing shareholder value, reflecting the company’s ambition to continuously refine its operational approach and stakeholder engagement.

Parkland also continues to reach out to Simpson Oil with an invitation to rejoin the board and participate in the Special Committee overseeing this strategic review.

About Parkland Corporation

Parkland Corporation stands as one of the leading international fuel distributors, serving customers in 26 countries throughout the Americas. The company's vast retail network meets daily consumer fuel and convenience needs, while its commercial operations provide businesses with essential fuel supplies. Beyond traditional fuels, Parkland is committed to sustainability, offering options that reduce environmental impact through renewable fuels and ultra-fast EV charging solutions.

With approximately 4,000 retail and commercial locations across Canada, the U.S., and the Caribbean, Parkland has built extensive supply and distribution capabilities that foster both growth and operational excellence. The company's strategy highlights two main pillars: Customer Advantage, aimed at being the first choice for consumers, and Supply Advantage, focusing on operational efficiency and cost leadership. These strategic initiatives, supported by a strong workforce that values safety, integrity, and respect, define Parkland as a forward-thinking leader in the fuel distribution industry.

Conclusion

The appointment of Felipe Bayon and Sue Gove is a testament to Parkland Corporation’s dedication to enhancing its corporate governance and bolstering its leadership capabilities. As the company continues to evolve, the combination of Bayon’s energy expertise and Gove’s retail acumen will be key drivers in achieving its strategic goals. Shareholders and stakeholders alike can look forward to positive developments as the board aims to enhance value and reinforce the company's market position.