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Glass Lewis Recommends Shareholders Support Elliott's Case for Urgent Board Change at Phillips 66
- Elliott Investment Management has nominated Brian Coffman, Sigmund Cornelius, and Michael Heim to Phillips 66’s Board at the May 21, 2025 Annual Meeting to push for urgent governance changes.
- Elliott’s proxy campaign followed prolonged limited engagement with Phillips 66’s board, which maintains a combined Chair and CEO role, classified board, and over-tenured directors.
- Glass Lewis, ISS, and Egan-Jones endorse Elliott’s slate, criticizing Phillips 66’s poor operating performance, opaque disclosures, and weak governance as reasons for shareholder concern.
- Glass Lewis stated Elliott’s case is supported by a "relatively decisive margin," exposing Phillips 66’s "false narratives and distortions of the facts" and calling for board de-staggering to enhance accountability.
- The endorsements and governance critiques imply that electing Elliott’s nominees offers the clearest path to refocus Phillips 66 on core assets and improve long-term shareholder value.
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103 Articles
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Glass Lewis Recommends Shareholders Support Elliott's Case for Urgent Board Change at Phillips 66
Glass Lewis Recognizes Need for Independent Perspectives in the Phillips 66 Boardroom and Recommends Support for Elliott Director Nominees Brian Coffman, Sigmund Cornelius and Michael Heim
Glass Lewis Recommends Shareholders Support Elliott's Case for Urgent Board Change at Phillips 66 - Phillips 66 (NYSE:PSX)
Glass Lewis Recognizes Need for Independent Perspectives in the Phillips 66 Boardroom and Recommends Support for Elliott Director Nominees Brian Coffman, Sigmund Cornelius and Michael Heim Concludes Elliott Has Presented a More Compelling Case By a "Relatively Decisive Margin" and Phillips 66's Underperformance and Poor Governance Should be of "Significant Concern" to Investors Cites Company's "Increasingly Dubious" Commitment to Corporate Gov…
Phillips 66 Loses Glass Lewis Support for Three Directors
Proxy advisory firm Glass Lewis said shareholders of Phillips 66 should vote for three board nominees put forward by Elliott Investment Management, amid a proxy battle between the US oil refiner and activist investor.
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