CALGARY,
AB, March 18, 2025 /CNW/ - Parkland
Corporation ("Parkland" or the "Company") (TSX: PKI) today is
pleased to announce the appointment of Felipe Bayon and Sue
Gove to its Board of Directors (the "Board"), effective
March 18, 2025. These appointments
reinforce the Company's commitment to strong corporate governance
by adding two highly experienced c-suite leaders.
"Felipe and Sue are accomplished executives with expertise in
industries and sectors that align with Parkland's business," said
Michael Jennings, Chair of the
Board. "Felipe's deep energy industry experience in Parkland's
broader international region combined with Sue's extensive retail
experience and governance expertise, will be invaluable as the
Company explores all options to maximize value for all
shareholders."
Mr. Bayon brings more than 30 years of leadership experience in
the global energy sector. He previously held senior operational
roles with BP plc and served as President and Chief Executive
Officer of Ecopetrol S.A. ("Ecopetrol"), Colombia's largest integrated energy company
and one of the largest and most influential corporations in
Parkland's international region. While at Ecopetrol, Mr. Bayon
spearheaded the company's transformation into a diversified energy
group, delivered record safety and financial performance and
strengthened corporate governance.
Ms. Gove has extensive experience in the retail sector,
including holding positions as Chief Executive Officer, Chief
Financial Officer and Chief Operating Officer. In addition to a
deep understanding of consumer behaviour, Ms. Gove has led multiple
strategic transformations and brings extensive public and private
company board experience including a 12-year tenure at AutoZone
Inc., where she spent 8 years as Chair of the Nominating and
Governance Committee. Ms. Gove currently serves on the board of
directors of LKQ Corporation.
These appointments mark the latest step in Parkland's ongoing
commitment to strong governance and a rigorous, ongoing board
renewal process, which has prioritized recruiting directors with
deep industry and executive expertise. Additionally, as Parkland
undergoes its previously announced strategic review, Mr. Bayon and
Ms. Gove's expertise will provide valuable perspective in
evaluating opportunities to maximize value for all
shareholders.
With today's announcement, Parkland has added six highly
experienced Independent Directors to the Board over the past two
years to ensure a governance structure that blends relevant
expertise with fresh perspectives and organizational
continuity.
Parkland's Annual General Meeting of Shareholders is scheduled
to take place on May 6, 2025. The
Company continues to openly invite Simpson Oil to rejoin the Board
and participate on the Special Committee which is leading the
Company's previously announced strategic review.
About Parkland Corporation
Parkland is a leading international fuel distributor, marketer,
and convenience retailer with safe and reliable operations in 26
countries across the Americas. Our retail network meets the fuel,
and convenience needs of everyday consumers. Our commercial
operations provide businesses with fuel to operate, complete
projects and better serve their customers. In addition to meeting
our customers' needs for essential fuels, Parkland provides a range
of choices to help them lower their environmental impact, including
manufacturing and blending renewable fuels, ultra-fast EV charging,
a variety of solutions for carbon credits and renewables, and solar
power. With approximately 4,000 retail and commercial locations
across Canada, the United States, and the Caribbean region, we have developed supply,
distribution, and trading capabilities to accelerate growth and
business performance.
Our strategy is focused on two interconnected pillars: our
Customer Advantage and our Supply Advantage. Through our Customer
Advantage, we aim to be the first choice of our customers through
our proprietary brands, differentiated offers, extensive network,
competitive pricing, reliable service, and compelling loyalty
program. Our Supply Advantage is based on achieving the lowest cost
to serve among independent fuel marketers and distributors in the
hard-to-serve markets in which we operate, through our
well-positioned assets, significant scale, and deep supply and
logistics capabilities. Our business is underpinned by our people
and our values of safety, integrity, community, and respect, which
are embedded across our organization.
Forward-Looking Statements
Certain statements contained herein constitute forward-looking
information and statements (collectively, "forward-looking
statements"). When used the words "expect", "will", "could",
"would", "believe", "continue", "pursue" and similar expressions
are intended to identify forward-looking statements. In particular,
this news release contains forward-looking statements with respect
to, among other things: Parkland's commitment to strong corporate
governance and its board renewal process; expectations relating to
the newly appointed directors as well as those appointed over the
past two years; Parkland's strategic review and expectations
relating thereto, including maximizing value for all shareholders;
and Parkland's Annual General Meeting of Shareholders and the date
thereof.
These statements involve known and unknown risks, uncertainties
and other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. No assurance can be given that these expectations will
prove to be correct and such forward-looking statements included in
this news release should not be unduly relied upon. These
forward-looking statements speak only as of the date of this news
release. Parkland does not undertake any obligations to publicly
update or revise any forward-looking statements except as required
by securities laws. Actual results could differ materially from
those anticipated in these forward-looking statements as a result
of numerous risks, assumptions and uncertainties including, but not
limited to: general economic, market and business conditions; micro
and macroeconomic trends and conditions, including increases in
interest rates, inflation, imposition of tariffs and fluctuating
commodity prices; Parkland's ability to execute its business
strategy, including its board renewal process and its strategic
review, and realizing benefits resulting therefrom; Parkland's
Annual General Meeting of Shareholders and the date thereof; and
any other factors, many of which are beyond the control of
Parkland. See also the risks and uncertainties described under the
headings "Cautionary Statement Regarding Forward-Looking
Information" and "Risk Factors" in Parkland's current Annual
Information Form, and under the headings "Forward-Looking
Information" and "Risk Factors" in Parkland's Management's
Discussion and Analysis for the most recently completed financial
period, each as filed on SEDAR+ and available on Parkland's website
at www.parkland.ca. The forward-looking statements contained in
this news release are expressly qualified by this cautionary
statement.
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SOURCE Parkland Corporation
