Phillips 66 Dispute with Elliott Management

Phillips 66 is currently involved in a dispute with activist investor Elliott Management. The company’s independent director, Bob Pease, has criticized Elliott’s tactics, stating that they are attempting to remove him from the board.

Elliott Management initially supported Pease’s appointment to the board but has now nominated four new candidates to join the board, including those who would replace Pease. This development has led to a public disagreement between Pease and Elliott.

Phillips 66 Stock Performance

Phillips 66’s stock price has seen significant growth over the past three years. According to available data, investors who purchased shares at the time may have seen a return of over 50% on their investment.

Key Developments

• Elliott Management nominated four new candidates to join the Phillips 66 board, including those who would replace Bob Pease.
• Bob Pease has criticized Elliott’s tactics, stating that they are attempting to remove him from the board.
• Phillips 66’s stock price has seen significant growth over the past three years.