Elliott Director Nominees Send Letter to Phillips 66 Shareholders

Core Viewpoint - Elliott Investment Management is advocating for the election of four independent director nominees to the board of Phillips 66, emphasizing their skills and experiences to drive positive change and create value for shareholders [1][2][3]. Group 1: Nominees' Qualifications - The four nominees—Brian Coffman, Sigmund Cornelius, Michael Heim, and Stacy Nieuwoudt—bring a diverse set of skills relevant to Phillips 66, including leadership in refining, financial oversight, midstream operations, and an investor's perspective [3][4]. - Each nominee has experience serving on boards of companies at various stages, which positions them to address the unique challenges faced by Phillips 66 [3]. Group 2: Value Creation Potential - The nominees believe that closing the performance gap between Phillips 66 and its competitors is achievable, citing the company's high-quality assets and talented workforce as key strengths [4]. - They propose a focus on operational excellence, accountability, and corporate governance to unlock the company's potential and enhance its market position [4]. Group 3: Commitment to Collaboration - If elected, the nominees are prepared to work constructively with incumbent directors to strengthen Phillips 66, emphasizing their independent thinking and readiness to ask challenging questions [5]. - The nominees express a commitment to improving the company's credibility with shareholders and conducting thorough evaluations of its current structure and operations [5][6].