Phillips 66 Investor Elliott Calls for Board Changes

Like
Comment
Favorite

Phillips 66 Investor Elliott Calls for Board Changes

MT Newswires Live04-03

Phillips 66 (PSX) needs a new board lineup to reverse its long-term underperformance and improve its corporate governance, Elliott Investment Management said in a letter Thursday.

In the letter to stockholders, Elliott said the shares have lagged peers Valero Energy (VLO) and Marathon Petroleum (MAR).

Elliott also said it is seeking changes such as portfolio simplification and refinery operations review through a so-called "Streamline 66" plan, which it said could raise the Phillips 66 share price to over $200 apiece.

Elliott said it is nominating four directors to the board at the annual meeting next month. Elliott also said its funds together have an investment of more than $2.5 billion in the company.

Phillips 66 did not immediately respond to a request for comment from MTNewswires on Elliott's letter to shareholders.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

No comments yet

抱歉，当前请求异常(-1)

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2524221214?lang=en_US&edition=full_marsco","thumbnail":"","is_english":true,"pubTime":"2025-04-04 05:58","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2524221214","market":"sg","top_or_hot":-1,"title":"Phillips 66 Investor Elliott Calls for Board Changes","media":"MT Newswires Live","content":"<html><body><p> <a href=\"https://laohu8.com/S/PSX\">Phillips 66</a> (PSX) needs a new board lineup to reverse its long-term underperformance and improve its corporate governance, Elliott Investment Management said in a letter Thursday.</p><p>In the letter to stockholders, Elliott said the shares have lagged peers Valero Energy (VLO) and Marathon Petroleum (MAR).</p><p>Elliott also said it is seeking changes such as portfolio simplification and refinery operations review through a so-called \"Streamline 66\" plan, which it said could raise the Phillips 66 share price to over $200 apiece.</p><p>Elliott said it is nominating four directors to the board at the annual meeting next month. Elliott also said its funds together have an investment of more than $2.5 billion in the company.</p><p>Phillips 66 did not immediately respond to a request for comment from MTNewswires on Elliott's letter to shareholders.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Phillips 66 Investor Elliott Calls for Board Changes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPhillips 66 Investor Elliott Calls for Board Changes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-04-04 05:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> <a href=\"https://laohu8.com/S/PSX\">Phillips 66</a> (PSX) needs a new board lineup to reverse its long-term underperformance and improve its corporate governance, Elliott Investment Management said in a letter Thursday.</p><p>In the letter to stockholders, Elliott said the shares have lagged peers Valero Energy (VLO) and Marathon Petroleum (MAR).</p><p>Elliott also said it is seeking changes such as portfolio simplification and refinery operations review through a so-called \"Streamline 66\" plan, which it said could raise the Phillips 66 share price to over $200 apiece.</p><p>Elliott said it is nominating four directors to the board at the annual meeting next month. Elliott also said its funds together have an investment of more than $2.5 billion in the company.</p><p>Phillips 66 did not immediately respond to a request for comment from MTNewswires on Elliott's letter to shareholders.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2524221214","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2524221214","pubTimestamp":1743717528,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Phillips 66  needs a new board lineup to reverse its long-term underperformance and improve its corporate governance, Elliott Investment Management said in a letter Thursday.In the letter to stockholders, Elliott said the shares have lagged peers Valero Energy  and Marathon Petroleum .Elliott also said it is seeking changes such as portfolio simplification and refinery operations review through a so-called \"Streamline 66\" plan, which it said could raise the Phillips 66 share price to over $200 apiece.Elliott said it is nominating four directors to the board at the annual meeting next month. Elliott also said its funds together have an investment of more than $2.5 billion in the company.Phillips 66 did not immediately respond to a request for comment from MTNewswires on Elliott's letter to shareholders.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Phillips 66投资者埃利奥特·评级(Elliott Miller)提出董事会变动","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MAR":1,"MAR.AU":1,"PSX":1,"VLO":1},"content_text":"Phillips 66 (PSX) needs a new board lineup to reverse its long-term underperformance and improve its corporate governance, Elliott Investment Management said in a letter Thursday.In the letter to stockholders, Elliott said the shares have lagged peers Valero Energy (VLO) and Marathon Petroleum (MAR).Elliott also said it is seeking changes such as portfolio simplification and refinery operations review through a so-called \"Streamline 66\" plan, which it said could raise the Phillips 66 share price to over $200 apiece.Elliott said it is nominating four directors to the board at the annual meeting next month. Elliott also said its funds together have an investment of more than $2.5 billion in the company.Phillips 66 did not immediately respond to a request for comment from MTNewswires on Elliott's letter to shareholders.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}