News Formal

Suncor reaches deal with activist investor Elliott Investment Management

  • 📰 TorontoStar
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 55%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

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.

Elliott had expressed frustration in April in what it called a recent decline in performance at the energy producer. The review of Suncor’s retail business will include a range of alternatives including a potential sale of the operations. Suncor chief executive Mark Little resigned earlier this month, one day after the company announced the death of a contractor at its Base Mine north of Fort McMurray, Alta., the latest in a string of workplace deaths and safety incidents that have plagued the energy giant.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 60. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

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

The Week Ahead: Canadian inflation data; Earnings from Netflix, Twitter - BNN BloombergA look at what investors will be watching in the week ahead
Source: BNNBloomberg - 🏆 83. / 50 Read more »

How long will Canada's honeymoon phase last when it comes to EV investment?A series of electric-vehicle and battery supply-chain investments in Canada and the United States this spring have shifted North America’s automotive axis a bit farther north, industry insiders say.
Source: AutoNewsCanada - 🏆 77. / 51 Read more »