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Engine Capital demands board changes at Parkland Corp., criticizing poor performance and asset sales.
Engine Capital LP, a New York-based activist hedge fund owning 2.5% of Parkland Corp.’s shares, is demanding a board shakeup at the Calgary-based fuel refiner and retailer.
Engine claims the current board cannot represent investors' interests and has criticized Parkland's financial underperformance and poor asset sales execution.
The demand comes as Parkland considers selling the company and reviewing strategic alternatives, including mergers and asset sales.
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Engine Capital exige cambios en la junta directiva de Parkland Corp., criticando el bajo rendimiento y las ventas de activos.