Phillips 66 Names 2 Board Members after Elliott Negotiations

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Phillips 66 has appointed Kevin Meyers and Howard Ungerleider to its board of directors, following negotiations with activist investor Elliott Investment Management LP. Elliott had advocated for leadership changes to address the refiner’s “persistent underperformance.” The new board members bring extensive experience from ConocoPhillips and DowDuPont, respectively. Glenn Tilton and Marna Whittington will not seek re-election, resulting in a 14-director board with 13 independent members after the May annual meeting.

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