Elliott called the vote a clear mandate for change. “Today’s vote sends a clear message: Shareholders demand meaningful change at Phillips 66,” Elliott said in a prepared statement.

Phillips 66 (PSX) stock was in focus on Tuesday after Elliott Investment Management nominated seven directors to the refiner’s board. The activist investor’s nominees include John Pike, who is ...

Mark E. Lashier, Phillips 66 chairman and CEO, said Elliott Investment Management’s proposals have devolved into a “series of attacks” after the firm proposed seven candidates for the ...

The Phillips 66 board and leadership team has sought to engage constructively with Elliott, but Elliott’s thesis relies on market timing and commodity cycles, which are highly volatile.” ...

Elliott has said it has a more than $2.5 billion investment in Phillips 66. It is the second time the investment firm has pushed for change at Phillips 66, after a first effort ended in early 2024 ...

Elliott Management filed a lawsuit against Phillips 66, seeking an order that would require four board seats to be up for election at the annual shareholders meeting later this year.

Goff, a former executive at Phillips 66’s predecessor company — ConocoPhillips — who has worked with Elliott in the past year, said a slate of directors being put forward by Elliott can help unlock ...

Elliott engaged Phillips 66 in November 2023, calling for a series of improvements. The activist has since grown its position and stepped up its efforts.

Phillips 66, since Elliott’s campaign began in 2023, has shown little desire to become the kind of company Elliott wants. The refiner announced a $2.2 billion acquisition of natural gas pipeline ...

In March, Mark E. Lashier, Phillips 66 chairman and CEO, responded in a March 4 letter to shareholders that Elliott had made a “series of attacks and proposals regarding monetization of certain ...

Zinger Key Points Phillips 66 optimistic about Elliott's turnaround strategy, seeks constructive talks. Company plans $13 billion-15 billion shareholder distribution, $1.4 billion savings by 2024.