CEO steps down as part of succession strategy

The man who has led Parkland Income Fund for the past five years is leaving. Red Deer-based Parkland (TSX: PKI.UN) announced on Friday that Mike Chorlton is stepping down as its president and CEO, effective May 1, 2011. Bob Espey, the fund’s chief operating officer, will replace him.

The man who has led Parkland Income Fund for the past five years is leaving.

Red Deer-based Parkland (TSX: PKI.UN) announced on Friday that Mike Chorlton is stepping down as its president and CEO, effective May 1, 2011. Bob Espey, the fund’s chief operating officer, will replace him.

“This was the planned CEO succession strategy developed by the board dating back to 2008, when Mr. Espey was recruited as a potential successor for Mr. Chorlton,” said Jim Pantelidis, chairman of Parkland’s board of directors, in a news release.

“Under Mr. Chorlton’s leadership, Parkland has grown from a regional retail fuel marketer to the largest national independent fuel marketer in Canada with retail, commercial, wholesale, home heating oil, convenience store and other related operations.

“During Mr. Chorlton’s tenure, Parkland’s enterprise value has grown from approximately $250 million in 2005 to approximately $950 million currently.”

Espey was originally hired as vice-president retail markets. Prior to that, he spent three years with FisherCast Global, where he was the executive in charge of worldwide sales and marketing, and later CEO.

He also served as vice-president of Algonquin Automotive, a supplier to automotive manufacturers; worked in London, England, primarily with Computer Sciences Corporation; was a partner with What If Impact, a London-based consulting firm; and spent four years in the Canadian navy as a commissioned officer.

Chorlton became Parkland’s president and CEO in September 2005. He replaced John Schroeder, who acted as interim president and CEO following the departure of Andrew Wiswell in May 2005.

Before joining Parkland, Chorlton held senior management positions in Canada and the United States, including president and CEO of Saskferco Products Inc., vice-president of Renessen LLC, and managing director of Exxon Chemical Fertilizer Company.

He’s currently serving on Parkland’s boards and that of the Canadian Petroleum Products Institute.

Parkland operates through a network of 620 retail locations, 77 commercial branches and 71 cardlock locations, with its brands including Fas Gas Plus, Fas Gas and Race Trac.

It also has distribution agreements with 293 Esso locations, and supplies propane, bulk fuel, heating oil, lubricants and other products and services under the Neufeld, United Petroleum, Columbia Fuels, Bluewave Energy and Great Northern Oil brands.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

House sales remain hot in central Alberta with first-quarter sales nearly double last year’s numbers. Photo by PAUL COWLEY/Advocate staff
Central Alberta real estate market hot in 2021

Residential sales nearly double 2020 in first quarter

Red Deer Mayor Tara Veer gave an update on Olymel's COVID-19 situation on Wednesday. (File photo by Advocate staff).
Veer addresses rising COVID-19 cases in Red Deer

Red Deer has added nearly 200 cases of active COVID-19 cases in past week

Alberta’s chief medical officer of health Dr. Deena Hinshaw and Premier Jason Kenney say the province would look at adding additional COVID-19 measures in the coming weeks if the virus continues to spread. (Photo by Government of Alberta)
Walk-in COVID-19 vaccination clinic to open in Red Deer

Alberta adds 1,345 new cases of the virus

Innisfail RCMP are investigating a single-vehicle crash that happened west of Bowden on March 21, 2021. (File photo by Advocate staff)
RCMP investigate culturally insensitive graffiti at Sylvan Lake school

Sylvan Lake RCMP is investigating a vandalism incident. On April 17 around… Continue reading

A vial of the Medicago vaccine sits on a surface. CARe Clinic, located in Red Deer, has been selected to participate in the third phase of vaccine study. (Photo courtesy www.medicago.com)
Red Deer clinical research centre participating in plant-based COVID-19 vaccine trial

A Red Deer research centre has been selected to participate in the… Continue reading

Vancouver Canucks' Tanner Pearson, right, celebrates after scoring against Toronto Maple Leafs goalie David Rittich during the third period of an NHL hockey game in Vancouver, on Tuesday, April 20, 2021. THE CANADIAN PRESS/Darryl Dyck
Pearson, Sutter each score twice as Canucks dump Leafs 6-3

Pearson, Sutter each score twice as Canucks dump Leafs 6-3

Everton's Gylfi Sigurdsson celebrates with teammates after scoring his side's second goal during the English Premier League soccer match between Everton and Tottenham Hotspur at Goodison Park in Liverpool, England, Friday, April 16, 2021. (Peter Powell/Pool via AP)
Super League collapses after the 6 English clubs withdraw

Super League collapses after the 6 English clubs withdraw

Boston Red Sox starting pitcher Eduardo Rodriguez delivers against the Toronto Blue Jays during the first inning of a baseball game Tuesday, April 20, 2021, at Fenway Park in Boston. (AP Photo/Winslow Townson)
Bogaerts’ 3-run HR, Rodriguez lift BoSox over Blue Jays 4-2

Bogaerts’ 3-run HR, Rodriguez lift BoSox over Blue Jays 4-2

Pound says Olympic qualifying issues a concern to IOC

Pound says Olympic qualifying issues a concern to IOC

Former University of Victoria rowing coach Barney Williams is photographed in the stands during the Greater Victoria Invitational at CARSA Performance Gym at the University of Victoria in Victoria, B.C., on Friday, November 29, 2019. THE CANADIAN PRESS/Chad Hipolito
Rowing Canada sanctions former head coach of B.C. varsity women’s team

Rowing Canada sanctions former head coach of B.C. varsity women’s team

Ontario Hockey League cancels 2020-21 season as COVID-19 cases surge in province

Ontario Hockey League cancels 2020-21 season as COVID-19 cases surge in province

Lionel Desmond (front row, far right) was part of the 2nd battalion, of the Royal Canadian Regiment, based at CFB Gagetown and shown in this 2007 handout photo taken in Panjwai district in between patrol base Wilson and Masum Ghar in Afghanistan. THE CANADIAN PRESS/HO-Facebook-Trev Bungay MANDATORY CREDIT
Desmond inquiry: Veterans Affairs submits internal review after initial refusal

Desmond inquiry: Veterans Affairs submits internal review after initial refusal

FILE - In this Feb. 18, 2021 file photo State representatives gather at the Capitol, in Phoenix. Two years after Arizona lawmakers repealed a law barring any instruction on HIV or AIDS that that "promotes a homosexual lifestyle," they are close to enacting a broad remake of the state's sex education laws with a particular focus on LGBTQ issues. (AP Photo/Matt York,File)
Arizona governor vetoes strict sex education legislation

Arizona governor vetoes strict sex education legislation

Most Read