Parkland Corp.’s largest shareholder will no longer have voice on company’s board

Parkland Corp.’s largest shareholder will no longer have a seat on the fuel retailer’s board after the recent resignation of two board members.

The Calgary-based company announced on Dec. 31 the resignations of Simpson Oil nominees Michael Christiansen and Marc Halley from Parkland’s board of directors.

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Parkland also says it is in discussions with Simpson about its shareholding in the company.

Simpson Oil is headquartered in the Cayman Islands and has been a Parkland shareholder since 2017.

Since 2022, when Parkland consolidated its ownership of Sol, a Caribbean fuel retailer formerly owned by Simpson Oil, Simpson has owned about 20 per cent of Parkland shares.

Going forward, Simpson Oil has waived its previously agreed-upon right to nominate two members to Parkland’s board.