The Calgary-based fuel distribution company is under renewed pressure to overhaul its leadership. Simpson Oil, which holds a 19.8 per cent stake in the firm, reportedly proposed nine new board directors as a way to combat what it calls Parkland’s “chronic underperformance.” Simpson Oil is also pushing to replace Parkland CEO Bob Espey, according to the report, which cited a letter the firm sent to its shareholders. (Bloomberg News)

Talking point: Simpson Oil’s latest push for management change is a significant escalation in the ongoing fight for control of Parkland and its network of around 4,000 gas stations, located mostly in the U.S. and Canada. Last month, New York-based hedge fund Engine Capital, which holds a 2.5 per cent stake in Parkland, also called for changes to the company’s leadership, criticizing management for what it described as “questionable judgement” and weak financial performance. Among Simpson Oil’s nine proposed replacement board members are Brian Gibson, chair of Investment Management Corporation of Ontario, and Mark Davis, head of Calgary’s Chemtrade Logistics. Parkland currently has 11 board members.