Elliott releases statement for Phillips 66 shareholders

Elliott Investment Management, which manages funds that together make it a top five shareholder in Phillips 66 (PSX), announced that based on preliminary analysis from Elliott’s proxy solicitor, two of Elliott’s nominees – Sigmund Cornelius and Michael Heim – were elected to the Phillips 66 Board of Directors at the Company’s 2025 Annual Meeting of Shareholders. Elliott released the following statement: “We thank our fellow shareholders, the proxy advisory firms and Phillips 66’s employees for their support throughout this campaign. Today’s vote sends a clear message: Shareholders demand meaningful change at Phillips 66. We are confident Sig and Mike will work collaboratively with the incumbent directors to improve operational execution and share-price performance, enhance corporate governance and help set a strategic course that can unlock Phillips 66’s full value-creation potential. As one of Phillips 66’s largest investors, Elliott will continue to actively engage with the Company while holding management and the Board accountable for delivering on their commitment to improve shareholder value. We are hopeful that these words will translate into actions, and we will remain focused on helping Phillips 66 become a stronger, more valuable company for all shareholders.”