Phillips 66 Announces Preliminary Results of Annual Meeting of Shareholders

Details

According to the company's proxy solicitor, shareholders elected two Phillips 66 directors and two Elliott Management nominees. The elected Phillips 66 directors are Robert W. Pease and Nigel Hearne, while the Elliott nominees are Sigmund L. Cornelius and Michael A. Heim. The management proposal to declassify the Board was not approved by shareholders, and shareholders also voted against Elliott's proposal requiring annual director resignations. The final results will be reported in a subsequent Form 8-K filing.

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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.