The oil-sands giant added three industry veterans to its board after New York-based Elliott Investment Management called for a management shakeup. The Calgary-based company also said it would consider selling its gas stations to “unlock shareholder value.” Suncor shares closed up about one per cent on the Toronto Stock Exchange. (The Logic)

Talking point: The moves mark Suncor’s first steps toward altering its management team and re-evaluating its operations since Elliott announced its position in the company in April. Elliott, one of the world’s largest activist investors, has pointed to a “decline in the exceptional performance that was formerly [Suncor’s] hallmark,” including missed production targets and numerous fatalities at its sites. Suncor’s former CEO Mark Little stepped down on July 8, shortly after a worker died in an accident at the company’s Base Plant mine. Suncor owns more than 1,800 Petro-Canada-branded gas stations across Canada. The three new board members are former BHP executive Ian Ashby, ARC Financial partner Chris Seasons and former Talisman Energy executive Jackie Sheppard.