CALGARY – Parkland Corp. says chief executive Bob Espey has told its board of directors that he plans to step down from the top job.
The change comes as the company’s largest shareholder tries to replace a majority of the board.
Parkland says Espey will remain in the role until the appointment of a new CEO, the completion of the company’s strategic review, or Dec. 31, whichever occurs first.
The company also says board chair Michael Jennings has been appointed executive chair, while director James Neate will serve as lead independent director.
Simpson Oil Ltd., which owns almost 20 per cent of Parkland’s shares, has named nine nominees it wants to see voted in as directors at the meeting set for May 6. It says Parkland’s current leadership has failed and that new board members are needed to hold management accountable.
Parkland has called Simpson’s board proposal an attempt to seize control of the company without paying a premium.
This report by The Canadian Press was first published April 16, 2025.
Companies in this story: (TSX:PKI)