Parkland Corporation Reinforces Its Board with New Independent Directors to Enhance Governance
On March 19, 2025, Parkland Corporation announced the appointment of Felipe Bayon and Sue Gove to its board of directors, effective March 18, 2025. This move underscores Parkland's commitment to strong corporate governance and reflects its strategic goal to maximize shareholder value by integrating high-caliber leaders with significant industry experience.
Michael Jennings, Chair of the Board, remarked on the exceptional qualifications of Bayon and Gove. Bayon, with over 30 years in the energy sector, has held senior operational positions at BP plc and served as President and CEO of Ecopetrol S.A., the largest integrated energy company in Colombia. His leadership at Ecopetrol saw the company transition into a diversified energy group, achieving remarkable records in safety and financial performance while enhancing corporate governance.
Sue Gove brings a wealth of experience from the retail sector, having held positions such as CEO, CFO, and COO in several notable companies. Her expertise encompasses consumer behavior and strategic transformation, enriched by her twelve-year tenure on the board of AutoZone Inc., where she was chair of the Nominating and Governance Committee for eight years. Currently, Gove serves on the board of LKQ Corporation, further diversifying her skill set.
These appointments form part of Parkland's ongoing commitment to solid governance and a rigorous board renewal process, prioritizing directors with deep industry expertise and executive backgrounds. This proactive approach aims to provide vital insights as the company conducts its previously announced strategic review, allowing it to capitalize on opportunities that enhance shareholder value. In the span of just two years, Parkland has added six highly experienced independent directors, ensuring a governance framework that combines relevant experience with fresh perspectives and organizational continuity.
In anticipation of the upcoming annual general meeting of shareholders on May 6, 2025, Parkland continues to extend an open invitation to Simpson Oil to rejoin the board and participate in the Special Committee overseeing its strategic review.
About Parkland Corporation:
Parkland is a leading international fuel distributor, marketing, and convenience store operator with secure and reliable operations across 26 countries in the Americas. Its retail network serves everyday consumers' fuel and convenience needs while providing industrial fuel to businesses to better serve their clients. Committed to reducing environmental impacts, Parkland also focuses on renewable fuel production and blending, ultrafast electric vehicle charging, and various renewable energy solutions, alongside traditional services. With around 4,000 retail and commercial locations in Canada, the U.S., and the Caribbean, Parkland's operational capabilities are well-positioned for growth.
Parkland's strategy is anchored on two interrelated pillars: customer advantage and supply advantage. By cultivating customer loyalty, Parkland aims to be the first choice via exclusive brands, differentiated offerings, an extensive network, competitive pricing, and dependable service. Meanwhile, its supply advantage emphasizes the lowest service cost in challenging markets, leveraging its well-positioned assets and deep supply chain capabilities. Underpinning all these efforts are Parkland's core values of safety, integrity, community, and respect, driving its organizational culture.
Looking ahead, Parkland's future projections are built upon established goals pertaining to corporate governance and board renewal processes, new director expectations, strategic review outcomes, and shareholder engagement efforts. These forward-looking statements represent expectations hinging on known and unknown risks, uncertainties, and complex market conditions, which could significantly alter anticipated results or events. Investors are advised to weigh these statements against external economic considerations, market trends, and the inherent uncertainties of the energy sector.
For further details, please visit Parkland's official website at www.parkland.ca, and stay tuned for upcoming announcements concerning the board's ongoing evolution and Parkland's strategic aspirations.
Michael Jennings, Chair of the Board, remarked on the exceptional qualifications of Bayon and Gove. Bayon, with over 30 years in the energy sector, has held senior operational positions at BP plc and served as President and CEO of Ecopetrol S.A., the largest integrated energy company in Colombia. His leadership at Ecopetrol saw the company transition into a diversified energy group, achieving remarkable records in safety and financial performance while enhancing corporate governance.
Sue Gove brings a wealth of experience from the retail sector, having held positions such as CEO, CFO, and COO in several notable companies. Her expertise encompasses consumer behavior and strategic transformation, enriched by her twelve-year tenure on the board of AutoZone Inc., where she was chair of the Nominating and Governance Committee for eight years. Currently, Gove serves on the board of LKQ Corporation, further diversifying her skill set.
These appointments form part of Parkland's ongoing commitment to solid governance and a rigorous board renewal process, prioritizing directors with deep industry expertise and executive backgrounds. This proactive approach aims to provide vital insights as the company conducts its previously announced strategic review, allowing it to capitalize on opportunities that enhance shareholder value. In the span of just two years, Parkland has added six highly experienced independent directors, ensuring a governance framework that combines relevant experience with fresh perspectives and organizational continuity.
In anticipation of the upcoming annual general meeting of shareholders on May 6, 2025, Parkland continues to extend an open invitation to Simpson Oil to rejoin the board and participate in the Special Committee overseeing its strategic review.
About Parkland Corporation:
Parkland is a leading international fuel distributor, marketing, and convenience store operator with secure and reliable operations across 26 countries in the Americas. Its retail network serves everyday consumers' fuel and convenience needs while providing industrial fuel to businesses to better serve their clients. Committed to reducing environmental impacts, Parkland also focuses on renewable fuel production and blending, ultrafast electric vehicle charging, and various renewable energy solutions, alongside traditional services. With around 4,000 retail and commercial locations in Canada, the U.S., and the Caribbean, Parkland's operational capabilities are well-positioned for growth.
Parkland's strategy is anchored on two interrelated pillars: customer advantage and supply advantage. By cultivating customer loyalty, Parkland aims to be the first choice via exclusive brands, differentiated offerings, an extensive network, competitive pricing, and dependable service. Meanwhile, its supply advantage emphasizes the lowest service cost in challenging markets, leveraging its well-positioned assets and deep supply chain capabilities. Underpinning all these efforts are Parkland's core values of safety, integrity, community, and respect, driving its organizational culture.
Looking ahead, Parkland's future projections are built upon established goals pertaining to corporate governance and board renewal processes, new director expectations, strategic review outcomes, and shareholder engagement efforts. These forward-looking statements represent expectations hinging on known and unknown risks, uncertainties, and complex market conditions, which could significantly alter anticipated results or events. Investors are advised to weigh these statements against external economic considerations, market trends, and the inherent uncertainties of the energy sector.
For further details, please visit Parkland's official website at www.parkland.ca, and stay tuned for upcoming announcements concerning the board's ongoing evolution and Parkland's strategic aspirations.
Topics General Business）
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