Engine Capital calls for board changes at Parkland Corp., citing mismanagement and undervalued stock.

Engine Capital LP, an activist hedge fund owning 2.5% of Parkland Corp.'s stock, is calling for a board shakeup at the Calgary-based fuel refiner and retailer. Parkland is considering strategic alternatives, including a sale, after acknowledging its intrinsic value is not reflected in its stock price. Engine accuses the board of wasting money and poor performance, and demands the appointment of shareholder representatives and independent directors.