EUR/USD 1.14054
-0.053%
Gold 4058.28
-1.158%
Oil 74.598
3.593%
USD/JPY 162.498
0.252%
GBP/USD 1.33345
-0.180%
GBP/JPY 216.688
0.089%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
EU High Representative for Foreign Affairs: The fighting between the US and Iran has further complicated negotiations to end the war.ECB Governing Council member Eskeriva: We will keep all options open and decide on a meeting-by-meeting basis.The Chief of Staff of the Iranian Armed Forces stated: "The Iranian armed forces stand shoulder to shoulder with the people, appearing on the battlefield in a strong and stable posture. If the enemy lands on the Iranian coast, they will step into a hell from which there is no return."July 8th Futures News: 1. Greige Fabric Inventory: On July 8th, greige fabric weaving inventory was approximately 32.8 days. Currently, greige fabric prices are unlikely to rise, and profit margins are being squeezed by raw material demand. Market sentiment is cautious, resulting in stable greige fabric inventory. 2. Loom Operating Rate: As the off-season deepens, shipments of conventional fabrics are under pressure, transactions are slowing, and downstream end-users willingness to purchase and stock up is weak. This week, the operating rate fell slightly to 58.6%. 3. Greige Fabric/Fabric Trading: According to data monitoring and analysis of feedback from 350 price-collecting units, the Ministry of Commerces China•Shengze Silk and Chemical Fiber Index rose on July 8th. Among them, the chemical fiber fabric price index closed at 101 points, an increase of 0.03 compared to the previous trading day.The statement indicates that Oman condemns the attacks on oil tankers belonging to Bahrain, Kuwait, Saudi Arabia, and Qatar in the Strait of Hormuz.

Suncor Energy and Elliot Investment Management Enter into a Contract

Haiden Holmes

Jul 19, 2022 10:38

3.png


Monday, Suncor Energy (NYSE:SU) announced an agreement with Elliott Investment Management to propose three new independent directors, two of whom would participate on the CEO search committee and establish a new committee to oversee a strategic evaluation of Suncor's downstream retail business.


"These actions build on Suncor's ongoing efforts to enhance safety, reliability, and operational excellence and to restore its industry leadership position," the firm said.


Following the announcement, shares of Suncor jumped before giving up the majority of their initial gains and closing the day up 1.4%.


Suncor said that it will conduct a strategic examination of its downstream retail business in an effort to unlock shareholder value. According to a statement from Suncor, the evaluation would "study and evaluate a broad range of alternatives, including a potential sale of the firm and actions to maximize value."


A committee of independent directors, directed by Board member Russ Girling and composed of newly appointed members, will oversee the research and provide the Board with a proposal.


It is anticipated that the examination would end in the fourth quarter.


Suncor has appointed three new independent board members, effective immediately, as part of its agreement with Elliott. The board of directors now includes Ian Ashby, a former president of BHP Billiton's Iron Ore Customer Sector Group, Chris Seasons, a former president of Devon Canada, and Jackie Sheppard, a former executive vice president of Corporate and Legal Affairs of Talisman Energy Inc.


Kris Smith, Suncor's temporary chief executive officer, indicated that enhancing safety and operational performance is the leadership team's primary objective. "I look forward to working with the Board, including our new directors, to advance our efforts to generate long-term shareholder value, as well as to communicate our progress in accomplishing our debt reduction and other capital allocation goals, and in restoring confidence in Suncor."

Suggestion