Phillips 66
Phillips 66 Appoints New Chairman and Reduces Board Size
Summary
On March 8, 2024, Phillips 66 announced that Mark E. Lashier, its President and CEO, has been appointed to the additional position of Chairman of the Board, effective immediately before the 2024 Annual Meeting of Shareholders. Concurrently, Greg C. Garland, the current Executive Chairman and former CEO, will step down from the Board, reducing the Board size from 14 to 13 directors. This move is part of the Company's long-term succession planning efforts.
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About Phillips 66
Phillips 66 is a renowned American multinational energy company involved in refining, transporting, and marketing petroleum products. Engaging primarily as a downstream sector entity, Phillips 66 operates an extensive network of refineries, pipelines, and retail stations across the globe. The company's main function is to refine crude oil into marketable fuels such as gasoline, diesel, and jet fuel, as well as petrochemical products that serve as building blocks for various industrial applications. Additionally, Phillips 66 is known for its logistics and midstream operations, which include pipelines and trucking services that facilitate efficient energy distribution. The company plays a critical role in the energy sector, impacting industries ranging from transportation to manufacturing. By maintaining a strategic focus on safety, environmental stewardship, and operational excellence, Phillips 66 contributes significantly to the global energy supply chain. Established in 1875 and headquartered in Houston, Texas, Phillips 66 continues to provide essential energy solutions while adapting to evolving market dynamics and sustainability demands.
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