Parkland advances executive development and progression as part of succession plan
Brad Monaco, current Vice President, Finance Canada named interim Chief Financial Officer
CALGARY, AB, Dec. 17, 2024 /PRNewswire/ - Parkland Corporation ("Parkland", "we", the "Company", or "our") announced that, effective January 1, 2025, as part of the Company's executive succession plan, Marcel Teunissen, the Company's current Chief Financial Officer will transition to the new role of President, North America, responsible for Canadian and US operations.
Parkland Corporation Logo (CNW Group/Parkland Corporation)
"Parkland takes a thoughtful approach to senior executive development and progression," said Bob Espey, President and Chief Executive Officer. "Marcel has been Parkland's Chief Financial Officer since 2020. During this time, he has demonstrated tremendous business acumen and proven he is a progressive and exceptional leader. I am delighted he will lead our Canadian and US businesses and have confidence that, under his leadership they will contribute strongly to the Company's continued growth."
Effective January 1, 2025, Parkland has named Brad Monaco as Interim Chief Financial Officer. Brad will report to Parkland's President and Chief Executive Officer and work closely with the Company's Board of Directors.
"I am delighted Brad is stepping in as interim Chief Financial Officer," added Espey. "Brad has proven to be a highly impactful Parkland leader in both corporate and operational roles. His diverse finance and capital markets experience coupled with his strategic planning capabilities make him the natural choice to lead our finance function on an interim basis. I am confident he will do an excellent job."
Brad has held progressively senior finance roles at Parkland including Director, Capital Markets, and Vice President Finance for the Company's Canadian business segment. Prior to Parkland, Brad built considerable experience in various capital markets, strategic planning, and buy-side investment management roles.
Parkland has retained a leading global executive recruitment firm to conduct a search for a permanent Chief Financial Officer.
About Parkland Corporation
Parkland is an international fuel distributor, marketer, and convenience retailer with operations in twenty-six countries across the Americas. We serve over one million customers each day. Our retail network meets the fuel and convenience needs of everyday consumers. Our commercial operations provide businesses with industrial fuels so that they can better serve their customers. In addition to meeting our customers' needs for essential fuels, we provide a range of choices to help them lower their environmental impact. These include renewable fuels sourcing, manufacturing, and blending, carbon and renewables trading, solar power, and ultra-fast EV charging. With approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance.
Our strategy is focused on two pillars: our Customer Advantage and our Supply Advantage. Through our Customer Advantage, we aim to be the first choice of our customers, cultivating their loyalty through proprietary brands, differentiated offers, our extensive network, competitive pricing, reliable service, and our compelling loyalty program. Our Supply Advantage is based on achieving the lowest cost to serve among independent fuel marketers and distributors in the hard-to-serve markets in which we operate, through our well-positioned assets, significant scale, and deep supply and logistics capabilities. Our business is underpinned by our people and our values of safety, integrity, community, and respect, which are deeply embedded across our organization.
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, "forward-looking statements"). When used in this news release the words "focus", "aim", "will", "continue" and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: the Company's succession plan, the new appointments, the timing thereof and the mandates and reporting structures relating thereto, as applicable; confidence in the new appointments and expectations relating thereto; the Company's search for a permanent Chief Financial Officer; and Parkland's business strategies and objectives.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to: Parkland's ability to execute its business strategies, objectives and initiatives, including without limitation, its succession plan, the new appointments relating thereto, the timing thereof and realizing the benefits therefrom; Parkland's ability to recruit a permanent Chief Financial Officer; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" in Parkland's Annual Information Form dated February 27, 2024, and under the headings "Forward-Looking Information" and "Risk Factors" in Parkland's Q3 2024 MD&A dated October 30, 2024 and Q4 2023 MD&A dated February 27, 2024, each filed on SEDAR+ and available on Parkland's website at www.parkland.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
