Marcel Teunissen, Parkland Corp.’s current CFO, will transition to the role of president, North America, starting on Jan. 1. Teunissen will be responsible for the fuel marketer and convenience-store operator’s Canadian and U.S. operations, the company announced Tuesday.
“Parkland takes a thoughtful approach to senior executive development and progression,” said Bob Espey, president and CEO. “Marcel has been Parkland’s chief financial officer since 2020. During this time, he has demonstrated tremendous business acumen and proven he is a progressive and exceptional leader. I am delighted he will lead our Canadian and U.S. businesses and have confidence that, under his leadership they will contribute strongly to the company’s continued growth.”
Parkland Corp. is No. 38 on CSP’s 2024 Top 202 ranking of U.S. convenience-store chains by store count.
The move is part of Parkland’s executive succession plan, the Calgary, Alberta-based retailer said.
Donna Sanker remains president, international, for the company, Simon Scott, Parkland’s vice president of corporate affairs, told CSP Daily News.
“Our international business spans 24 countries and given its scale, diversity and growth trajectory it will benefit from a dedicated executive leader,” Scott said.
Effective Jan. 1, Brad Monaco will become interim CFO, where he will report to Parkland’s president and CEO and work closely with the company’s board of directors, the company said.
“I am delighted Brad is stepping in as interim chief financial officer,” Espey said. “Brad has proven to be a highly impactful Parkland leader in both corporate and operational roles. His diverse finance and capital markets experience coupled with his strategic planning capabilities make him the natural choice to lead our finance function on an interim basis. I am confident he will do an excellent job.”
Monaco has held several senior finance roles at Parkland including director, capital markets, and vice president finance for the company’s Canadian business segment. Parkland has retained a global executive recruitment firm to conduct a search for a permanent CFO.
Parkland has had a transformative year. In September, it said it would sell its struggling Florida retail and commercial businesses. It combined its commercial and retail operations in the United States and international regions under Sanker in July. And in 2025, it expects to complete its previously announced divestment program, which it expects to exceed $355.4 million in sales of noncore assets.
The company has also laid off more than 300 staff members since January 2023, it said in its second-quarter 2024 earnings report. And in an unrelated move, it also announced it would outsource its IT roles to Accenture.
Parkland Corp. has 210 company-operated c-stores in the United States under Parkland USA, with about 450 dealer sites. It has about 4,000 retail and commercial locations total. Its retail brands include On the Run.
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