US EditionGlass Lewis Recommends Shareholders Support Elliott's Case for Urgent Board Change at Phillips 66
- Glass Lewis recommended that shareholders support Elliott's urgent proposal for board change at Phillips 66 ahead of the May 21, 2025 Annual Meeting in West Palm Beach, Florida.
- This action follows Elliott's assertion that problematic governance and poor operational performance have hampered Phillips 66's value and lack of accountability under current directors.
- Glass Lewis praised the expertise and qualifications of Elliott's proposed directors—Brian Coffman, Sigmund Cornelius, and Michael Heim—emphasizing their capacity to provide independent oversight and effectively question the company’s existing internal viewpoints.
- Glass Lewis described Elliott's case as more compelling by a "relatively decisive margin," urging support for de-staggering the board and signaling a priority for shareholders' best interests.
- The recommendation implies that immediate governance reform via Elliott's nominees could address structural issues and potentially unlock shareholder value at Phillips 66.
57 Articles
57 Articles
The Berkshire Eagle
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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