In a letter to Suncor's board on Thursday, Elliott said shareholders have seen their investment lag behind nearly all large-cap North American oil and gas companies.
"Our investment in Suncor is underpinned by our conviction that, with the right leadership, the company can restore its prior success," Elliott partner John Pike and portfolio manager Mike Tomkins wrote in their letter.
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Activist investor Elliott Investment Management calling for shakeup at Suncor EnergyElliott Investment Management wants to add five new independent directors to the Suncor board and is calling for a review of the company’s executive leadership Exactly why every smart E&P CEO, seeking to maximize shareholder value, will be use cash flow over the next 3-5 years to go private. Being a public fossil fuel producer carries absolutely no benefit with enormous cost. lbo Just a suggestion? Fiercely partisan and bellicose Alberta and Suncor should finally try a just a modicum of humility, including considering PR, and begin using hydro-electricity instead of gas.
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