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Canada’s Suncor Energy Inc SU-T said on Friday it has amended an agreement with Elliott Investment Management to give the activist investor more time until March 31 to appoint an additional director to the energy company’s board.

Elliott has been pushing for organizational changes and strategic review at Suncor since disclosing a 3.4 per cent stake in the company in April last year. As part of its agreement with Elliott in July 2022, Suncor appointed three independent directors to its board.

In January, the two parties had amended the agreement to extend the deadline to appoint another director until March 17 from Jan. 31.

Last month, Calgary, Alberta-based Suncor appointed former Exxon Mobil Corp executive Rich Kruger as its chief executive, replacing interim CEO Kris Smith.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 16/04/24 4:15pm EDT.

SymbolName% changeLast
SU-T
Suncor Energy Inc
+1.31%51.92
SU-N
Suncor Energy Inc
+1.08%37.58

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