Phillips 66 has appointed two former senior leaders at ConocoPhillips and DowDuPont to its board of administrators efficient instantly.
The appointment of Kevin Meyers, who served as ConocoPhillips senior vp for exploration and manufacturing within the Americas earlier than retiring 2010, and Howard Ungerleider, who left DowDuPont January 2024 after serving as chief monetary officer, had been coordinated with investor Elliott Funding Administration LP, Phillips 66 stated in an internet assertion.
Elliott had repeatedly known as for management modifications at Houston, Texas-based refiner Phillips 66 to assist treatment what the West Palm Seashore, Florida-based asset supervisor stated was “persistent underperformance”.
- Advertisement -
“We’re happy with the additions of Howard and Kevin to the Phillips 66 board, and we welcome the experience they’ll deliver”, Elliott companions John Pike and Mike Tomkins commented within the assertion. “Elliott believes that Phillips 66’s asset high quality and market place create a compelling alternative for worth creation, and we’re inspired by the corporate’s efforts to deliver recent views to the board.
“Whereas extra work should be executed, we word the staff’s give attention to execution, capital return and the actions to boost the corporate’s advantaged mid-continent place.
“Our engagement with the board over the previous yr has been constructive. As one among Phillips 66’s largest traders, we’ll stay engaged with administration and the board of their work to understand the corporate’s full worth”.
Phillips 66 chair and chief govt Mark Lashier stated, “Howard brings distinctive monetary management and deep experience in large-scale industrial transformation, and Kevin brings greater than 40 years of hands-on vitality sector expertise”.
Earlier than becoming a member of ConocoPhillips, Meyers served as ARCO Alaska president. He additionally served on the boards of Invoice Barrett, Denbury, Hess, Hornbeck Offshore Providers and Lukoil. At present Meyers is a director at Precision Drilling. He holds a PhD in chemical engineering from Massachusetts Institute of Expertise, Phillips 66 famous.
Ungerleider is at the moment working advisor to Clayton Dubilier & Rice. He additionally holds board positions at Air Merchandise, American Airways and Kyndryl. He has an MBA from UCLA Anderson Faculty of Administration, Phillips 66 famous.
Phillips 66 affirmed that administrators Glenn Tilton and Marna Whittington wouldn’t search re-election at its annual shareholder assembly in Could.
“Following the annual assembly, the board will encompass 14 administrators, 13 of whom are impartial”, Phillips 66 stated. “Ungerleider will function a Class II director and Meyers will function a Class III director, and the corporate’s director nominees for election at its 2026 annual assembly of shareholders can be Ungerleider and the corporate’s different Class II administrators, Gregory J. Hayes, Charles M. Holley and Denise R. Singleton”.
To contact the writer, e-mail jov.onsat@rigzone.com
What do you assume? We’d love to listen to from you, be part of the dialog on the
Rigzone Power Community.
The Rigzone Power Community is a brand new social expertise created for you and all vitality professionals to Converse Up about our business, share data, join with friends and business insiders and interact in an expert neighborhood that can empower your profession in vitality.
