Suncor reaches deal with activist investor Elliott Investment Management | Globalnews.ca

Suncor Energy Inc. says 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.”

The new board members are former BHP Billiton executive Ian Ashby, former Devon Canada president Chris Seasons and former Talisman Energy executive Jackie Sheppard.“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.

“We appreciate the collaborative dialogue we have had with Suncor’s board and fully support the appointment of three new independent directors who will bring fresh, relevant perspectives into the boardroom, as well as the Board’s commitment to explore strategic options with respect to Suncor’s retail business,” Elliott partner John Pike and portfolio manager Mike Tomkins said in a statement.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Suncor reaches deal with activist investor Elliott Investment ManagementSuncor Energy Inc. says 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.”
Source: TorontoStar - 🏆 60. / 55 Read more »

Suncor reaches deal with activist investor Elliott Investment ManagementSuncor Energy Inc. says 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.'
Source: CTVNews - 🏆 1. / 99 Read more »

Suncor to review retail business, add directors in deal with activist investor Elliott InvestmentThe Suncor-Elliott agreement will also see three new independent directors join the company’s board
Source: globeandmail - 🏆 5. / 92 Read more »

​Suncor adding directors, mulls sale of gas station business - BNN BloombergSuncor announced a truce with an activist investor that will see the Canadian oil sands giant expand its board of directors and possibly sell its retail business. Goodbye Retail start the bidding Why get rid of the Retail when there is a death at a mine. I think the business model the way it is helps keep it profitable even when prices are low.
Source: BNNBloomberg - 🏆 83. / 50 Read more »