08:38 AM EDT, 03/18/2025 (MT Newswires) -- Parkland (PKI.TO) on Tuesday responded to pressure from two large shareholders for board renewal by appointing two new independent directors to its board.

The refiner and gas-stop operator said Felipe Bayon and Sue Gove agreed to serve on its board. Earlier this month, the company launched a strategic review of its operations that could end with the sale of the company. Bayon brings 30 years of energy-industry experience, including as chief executive of Colombia's Ecopetrol and senior roles at BP. Gove has experience in the retail sector, including 12 years as a director with Autozone.

"Felipe and Sue are accomplished executives with expertise in industries and sectors that align with Parkland's business. Felipe's deep energy industry experience in Parkland's broader international region combined with Sue's extensive retail experience and governance expertise, will be invaluable as the Company explores all options to maximize value for all shareholders," said Board Chair Michael Jennings.

The appointments follow pressure from the company's largest shareholder, Simpson Oil, which holds a 19.8% stake and successfully convinced the board to launch the strategic review earlier this month. Engine Capital, which holds a 2.5% stake, on Monday demanded the company replace its directors, expressing little trust for the current board and management with the company's shares little changed from their level three years earlier.

"With today's announcement, Parkland has added six highly experienced Independent Directors to the Board over the past two years to ensure a governance structure that blends relevant expertise with fresh perspectives and organizational continuity," the company said.

Parkland also invited Simpson Oil to take a board seat at its May annual meeting and play a role on the special committee leading the strategic review.

The company's shares closed up $0.85 to $36.93 Monday on the Toronto Stock Exchange.