Jim Pantelidis, Parkland Corp.’s chair of the board of directors, announced his immediate retirement Friday. While he will no longer be a director of the Calgary, Alberta-based fuel supplier and convenience-store operator, he will remain as an advisor to the board with the title of Chairman Emeritus until the next annual general meeting of shareholders, the company said.
Steven Richardson, who joined the board in 2017, was appointed the new chair of the board.
Pantelidis was with the company for more than two decades, guiding Parkland through its evolution from a small regional player to an international organization operating in 25 countries, the company said.
"On behalf of the board of directors I would like to thank Jim for his invaluable contributions to Parkland’s growth and strategy,” said Bob Espey, president and CEO of Parkland. “We wish him well in retirement and look forward to his support as an advisor to the company."
In April, activist investor Engine Capital, which holds 2% of Parkland’s outstanding shares, criticized Parkland’s decision to renominate its “over-tenured chairman.” At the time, Pantelidis had intended to serve on the board for another three years until the 2026 annual meeting.
- Parkland USA is No. 37 on CSP’s 2023 Top 202 ranking of U.S. convenience-store chains by company-owned store count.
Parkland did not give a reason for Pantelidis’s retirement, other than to say it was part of Parkland’s ongoing board refreshment process. CSP Daily News could not immediately reach the company for more information. Parkland allowed its largest long-term shareholder Simpson Oil Ltd. to name two nominees for election to its board of directors in March.
The new board director, Richardson, is on the human resources and compensation committee and is the chair of the audit committee, Parkland said. He has more than 30 years of experience in the financial and retail sectors, including at Hudson’s Bay Co. and Wells Fargo Financial Canada.
Parkland Corp. is the parent company of Parkland USA, which has more than 210 c-stores under several brands, including On the Run.
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