#Canada #Calgary #Parkland Corporation #Brad Monaco #Simpson Oil

Parkland Corporation's Latest Board Nomination Insights

Parkland Corporation has made a significant announcement regarding its governance structure for the upcoming year. With the annual general meeting (AGM) scheduled for May 6, 2025, Parkland is preparing to present a well-rounded slate of candidates for its board of directors. The company also disclosed recent developments regarding its management and strategic review process, showcasing its commitment to strong corporate governance.

In a move to enhance board diversity and experience, Parkland has proposed the inclusion of three nominees from Simpson Oil Limited, a minority shareholder with approximately 19.8% ownership in the company. This decision marks a notable shift in the board's composition amid ongoing discussions about shareholder representation and corporate control. Simpson has advanced these nominees as part of its efforts to increase influence within Parkland, making it clear that tensions exist regarding governance and management strategy.

The nominees, Brian Gibson, Karen Stuckey, and Michael Christiansen, have been evaluated against Parkland's governance standards. The former two bring valuable experience and credibility that can contribute positively to Parkland’s board dynamics. Notably, Christiansen works directly for Simpson and was previously nominated to the Parkland board, further complicating the shareholder relationship but also adding layers of experience to the strategic committee overseeing the review process.

Chairman Michael Jennings expressed concerns regarding several Simpson nominees, indicating that many may not hold the necessary experience to lead a complex public entity like Parkland. Despite this, his willingness to include some nominees reflects a strategic effort to foster collaboration instead of conflict. Jennings emphasized the board's objective: to maximize shareholder value while ensuring that daily operations are effectively managed.

Overall, Parkland aims to present a 13-member board, showcasing diversity in skills and experiences that are aligned with the company’s strategic goals. The board intends to reduce its size to 11 members by the AGM of 2026, part of an ongoing effort to optimize governance while maintaining regulatory compliance.

Additionally, Parkland has appointed Brad Monaco as the permanent Chief Financial Officer. Having served as interim CFO since January 1, 2025, Monaco is recognized for his strategic leadership and extensive experience within the capital markets and Canadian operations of Parkland.

As the company gears up for its AGM, shareholders will receive a management information circular detailing these developments. This material will provide comprehensive insights into the proposed nominees, the rationale behind their selections, and instructions for shareholder voting. Parkland strongly encourages all shareholders to vote positively in favor of its proposed slate via the provided blue proxy form.

In conclusion, Parkland Corporation's proactive approach in addressing shareholder dynamics, enhancing board expertise, and reinforcing its management structure demonstrates its commitment to delivering value. As the AGM approaches, it will be crucial for shareholders to actively participate in shaping the future direction of Parkland.

For further details, shareholders are encouraged to review the materials available through SEDAR+ and the company's website. Participation in the voting process will significantly impact the governance of this vital corporation in the energy sector.