it has reached a deal with activist investor Elliott Investment Management LP that will see it undertake a strategic review of its downstream retail business with the goal of "unlocking shareholder value."
"Suncor is committed to the ongoing renewal of its board of directors to ensure we maintain diverse and qualified directors who are charged with overseeing the company's strategy and driving shareholder value," board chair Michael Wilson said in a statement. Elliott had expressed frustration in April in what it called a recent decline in performance at the energy producer.
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