Top Parkland Holder Ups Fight, Seeks CEO Ouster, Board Shakeup

Simpson Oil Ltd. has launched a fight for control at Parkland Corp., which includes overhauling the gas station chain’s board and ousting long-serving Chief Executive Officer Bob Espey, aiming to fix what the investment firm calls a “chronic underperformance.”

In a letter sent to fellow shareholders reviewed by Bloomberg News, Simpson Oil — which holds a 19.8% stake — blamed Parkland’s board and management for a “deeply flawed capital allocation strategy,” amid a “strategy that ignores the company’s competitive advantages,” marking a sharp escalation in a dispute that has simmered for more than a year.

Parkland didn’t immediately ...