Elliott seeks rapid, irreversible change in pursuit of an unrealistic thesis – and risks halting the momentum on our long-term value-creating strategic plan'.

The contest pits one of the energy sector’s most storied players, which started 108 years ago as the Phillips Petroleum Co., ...

Phillips 66’s board of directors is again pushing against one of its largest investors—Elliott Investment Management—with a ...

In a letter to shareholders, Phillips 66--which operates 11 refineries in the U.S. and Europe--said it aims to decrease its refining adjusted controllable costs to $5.50/bbl by 2027, which would mark ...

Phillips 66 has strongly rejected Elliott Investment Management's proposal to break up the company, arguing that the plan is ...

Energy major defends transformation under CEO Mark Lashier and warns Elliott's proposals risk long-term value destruction ...

Elliott Presses for Change at Phillips 66 In a proxy filing submitted to regulators on Thursday, Elliott nominated four ...

We believe that only by adding new independent directors can the Board deliver the accountability needed to oversee Phillips 66 management today and as the Company moves to execute on the first ...

We believe that with resolute and decisive action, Phillips 66 is primed to deliver far greater returns for its shareholders than it has over the past decade. The purpose of this letter is to seek ...

Phillips 66 was formed in 2012 as a spin-off of refining ... failed to deliver on a promise to install two independent board directors. Bob Pease, a director previously backed by Elliott before ...

The activist investor, which owns a $2.5 billion stake in the company, also slimmed down to four the number of directors it plans to nominate to the company’s board from seven previously. “With ...