Three new independent directors join the company’s board
CALGARY — 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 agreement will also see three new independent directors join the company’s board.
The U.S.-based investment manager had expressed frustration in April in what it called a recent decline in performance at the energy producer.
Image and article originally from financialpost.com. Read the original article here.