Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Phillips 66 Appoints Robert W. Pease to Board of Directors

Appointment Follows Constructive Dialogue with Elliott; Commitment to Add a Second Director

The Board of Directors of Phillips 66 (NYSE: PSX) has appointed Robert W. Pease to serve on the board, effective immediately. Following the appointment, the board consists of 14 directors, 12 of whom are independent. In addition, Phillips 66 and Elliott Investment Management L.P. (together with its affiliates, “Elliott”) have agreed to work together to identify a second mutually agreed director to be named over the coming months.

“Phillips 66 is pleased to welcome Bob to the board. His demonstrated refining experience, leadership and energy expertise will add to the board’s oversight of the company as we advance our strategic priorities and deliver long-term, sustainable value. Phillips 66 is well positioned as the leading integrated downstream energy provider,” stated Greg Garland, executive chairman of the board. “Bob complements an already strong and diverse board and joins Phillips 66 after collaborative discussions with one of our largest investors. We appreciate the constructive engagement that we have had with Elliott in adding a highly qualified independent director.”

“We have worked collaboratively with Phillips 66 on the board’s appointment of Bob, who will bring extensive experience in refining and the energy industry more broadly,” said Elliott Partner John Pike and Senior Portfolio Manager Mike Tomkins. “As a large investor, we believe Phillips 66 would substantially increase shareholder value by hitting the enhanced targets it has outlined. We look forward to continuing our work with Phillips 66 to identify an additional director who can add valuable perspectives and experience to the board.”

Pease brings to the board over 38 years of experience in the energy industry and a global perspective on business affairs. During his career, he served in various leadership roles at Shell Trading (U.S.) Co., Motiva Enterprises and Cenovus Energy, across multiple facets of the downstream energy business, including refining, midstream and supply and trading operations. Pease’s roles included president of Shell Trading (U.S.) Co.; chief executive officer and president of Motiva; and, most recently, as president, downstream of Cenovus’ U.S. business and executive vice president, Corporate Strategy & president, Downstream.

Pease earned a Bachelor of Science degree in Chemical Engineering from the Rose-Hulman Institute of Technology and earned an executive certification from the Darden Graduate School of Business at the University of Virginia.

About Phillips 66

Phillips 66 (NYSE: PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Sunnyvale.com & California Media Partners, LLC. All rights reserved.